1. 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