Competition 101 — Perfect Competition, Oligopoly and Monopolies

Overview:

In this lesson, students will compare and contrast perfect competition with monopolies and oligopolies. Students will work in groups to find examples of each type of market. Next, students will read “Microsoft Vs. the Feds: Drawing the Battle Lines,” to see examples of monopolies in practice. Finally, students will do a short activity that helps them think about the effect of monopolies on consumers.

NBEA Standard(s):
  • Economics, II. Economic Systems
  • Economics, VII. The Role Of Government

Lesson Plan Details:

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