Vocab and Journals 12/1/15 Vocab: Perfect Competition Journals: 1.) How does a perfect market achieve equilibrium? (4) 2.) What prevents one firm from raising its prices? 3.) Fill in the Graphic Organizer on p. 159

Vocab and Journals 12/2/15 Vocab.: Barriers to Entry Journals: 1.) How can entrepreneurs overcome barriers to enter the market?

Vocab and Journals 12/3/15 Vocab: Monopoly & Natural Monopoly Journals: 1.) List the three characteristics of a monopoly and a natural monopoly.

Vocab and Journals 12/4/15 Vocab: Economies of Scale Journals: 1.) What real world example for Economies of Scale does the book provide? Think of one other example. 2.) Think of a real life example of how technology has broken up a monopoly in your lifetime?? There is more than one.

Vocab and Journals 12/7/2015 Vocab: Patent & License Journals: 1.)How can gov’t actions lead to the creation of a monopoly? Give at least two examples. 2.) Why are patents and licenses important to our economy?

Vocab and Journals 12/8/15 Vocab: Franchise & Monopolistic Competition Journals: 1.) Do you think price discrimination is fair? 2.) List the four conditions of monopolistic competition. 3.) How does differentiation help firms sell their products?

Vocab and Journals 12/9/2015 Vocab: Oligopoly & Trust Journals: 1.) List three oligopolies in our economy. 2.) Complete a Venn Diagram comparing and contrasting Monopolies and Oligopolies.

Vocab and Journals 12/10/15Journals: 1.) Write a sentence/short story using predatory pricing, collusion, price fixing, trust and anti-trust.