BUSINESS HIGH SCHOOL-ECONOMICS

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BUSINESS HIGH SCHOOL-ECONOMICS Laissez-Faire Perfect Competition Market Structure Unit 5 Monopoly Competition and Market Structure Oligopoly Free Enterprise Monopolistic Competition Role of Government Market Failure Regulation Inadequate Competition Public Disclosure Resource Immobility Anti-Trust Legislation Public Goods Essential Learning Expectations: Understand the conditions necessary for perfect competition. Discuss the characteristics of monopolistic competition. Explain how monopolistic competition affects profit maximization. Differentiate among different types of monopolies. Comprehend reasons for market failure. Understand the various roles of government as they relate to the economy. Define modified free enterprise. Content Vocabulary: Product differentiation Collusion Monopolistic competition Oligopoly Price-fixing Perfect competition