• 1.1.2: Markets

    • Market Structure Page

      Read this short article and study the diagram. This is a good reference item identifying and defining the four basic market structures. In developing a strategy, one needs first to determine the structure the firm is competing in.

    • Other Market Structures Page

      This video defines and explains competition in each market structure from an economic viewpoint. In which structure might uniqueness be the most important? In which structure might uniqueness be the least important?

    • Perfect Competition Page

      As you watch this video, pay attention to the terms you've heard in your economics courses. Pause the video and review any terms that are unfamiliar to you. Can you name at least one business or service in your community that is an example of (near) perfect competition?

    • Monopoly Page

      Watch this video for a better understanding of monopolies. Consider the current evolution of these two structures (perfect competition vs. monopoly) in an expanding global-enterprise environment.