When you have completed Lesson 3, you will be able to:
- Define pure competition and monopoly.
- Explain the characteristics oligopolies and monopolies.
Assignment 1.3.3.1
- Make a copy of this Google Document, rename it Study Guide 3-3-(Your Initials), and move it into your Chapter 3 folder.
- Read Lesson 3-3 on pages 72-78.
- As you read, utilize this presentation to help you answer the questions in your study guide.
Assignment 1.3.3.2
- Monopolistic Competition
- Create a new Google Document titled Restaurant-(your initials) and move it into your Chapter 3 folder.
- Most restaurants operate in a monopolistic competition environment. Outline several changes a manager could make to increase profits in that type of competitive environment. Use the space within your document to document your thoughts in a paragraph form.
- Technology
- Create a new Google Drawing titled Technology-(Your Initials) and move it into your Chapter 3 folder.
- Use the internet to find a change in technology that you believe increased economic competition in the United States. Find another change that you believe reduced economic competition.
- In your drawing, use visuals to communicate your findings. Make sure to showcase how the technology affected competition. Past the web address in the lower right hand corner of your drawing.