Teacher's Notes

Theme:
Competition tends to promote efficiency in markets.

Sub-theme:
Different markets have different levels of competition, and these have recognizable structures.

Concepts:

• self interest
• competition
• monopolistic competition
• oligopoly
• monopoly
• market failure

Performance objectives -- this lesson focuses on developing skills at:

• Analyzing a classic statement on the free market
• Assessing and Classifying the ways in which self interest affects behavior
• Observing and researching the various kinds of markets in a commonplace setting

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