Read Exploring Business – Chapter 1.5.

Watch video on Oligopolies and Monopolistic Competition.

Watch video on Monopolistic Competition and Profit.

Complete the Monopolistic Competition, Oligopoly, and Monopoly assignment in Teams.

Learning Targets:

• I can contrast the four types of competition in a free market system: perfect competition, monopolistic competition, oligopoly, and monopoly.
• I can distinguish between natural and legal monopolies.