Escolar Documentos
Profissional Documentos
Cultura Documentos
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Unit 5 Outline
Types of Industries
Introduction
This unit introduces
students to the
types of industries.
Students examine
perfect
competition,
monopoly,
oligopoly, and
monopolistic
competition with an
eye to
understanding the
impact of these
structures on firm
profitability,
competition, and
overall social
welfare. An
understanding of
interdependence in
oligopoly is also
stressed.
Big Questions
The main overarching question of this course is: How do individuals and societies make sense of
and assess economic information to make decisions?
By the end of this unit on the theory of the firm, you will be able to answer the following
question:
1. How does industry structure influence firm decision-making, competition and profitability?
2. How does industry structure affect allocative efficiency?
3. How does interdependence affect firm decision-making?
Analyzing Economic Issues (CIA4U)
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Key Vocabulary
Content
The Industry Spectrum
Perfect Competition
Monopoly
Oligopoly (Prisoner’s Dilemma)
Monopolistic Competition
Analyzing Economic Issues (CIA4U)
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Pre-Learning Assessment
Pre-Learning (What do you think you Curiosity (What questions do you have?)
know?)
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Pre-Learning (What do you think you Curiosity (What questions do you have?)
know?)
Name: __________________
Name: __________________
Name: __________________