Objectives:
- Define and identify the characteristics of different market structures.
- Compare and contrast the advantages and disadvantages of different market structures for an entrepreneurial venture.
- Analyze the impact of market power and barriers to entry on competition and pricing in different market structures.
- Students will understand how to apply economic concepts when making decisions for an entrepreneurial venture.
Age Level: Early secondary school
National Standards: Complies with NBEA Entrepreneurship 2023 Standard IV.A.8: Compare and contrast the different types of market structures
Materials:
- Whiteboard or blackboard
- Markers or chalk
- Computer or projector for slides
- Handouts or worksheets on market structures and economic concepts
- Flashcards with vocabulary terms
- Timer or clock
- Paper and pens or pencils for brainstorming activity
- Internet access for research purposes (optional)
- Game materials (such as a buzzer or quiz cards) if applicable
- Access to a learning management system (LMS) for sharing materials and resources (optional)
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