Do Now Market Structure O Answer the following

Do Now: Market Structure O Answer the following in 3 -5 complete sentences O What is market structure? What are the four characteristics of market structure?

Things and Stuff O Rockstar O Unit 2 Exam on Tues/Wed O Study guide + addition passed out on Wed

Market Structure Objective: Analyze markets and determine their structure.

Market Structure Group Project O Get into groups of 4 (no more than 4!) O At LEAST one person in your group must be someone you have never worked with before O Follow instructions carefully O Show me the completion of step 3 to get a poster paper O Complete a poster! O Do NOT reveal the market structure of your industry!!!!

Gallery Walk O As a group, rotate to the next group’s poster O Complete the table O Determine the market structure

Market Structure Activity Think of a good or service that you use and are familiar with. Choose a product that was not discussed in class or during the activity. Then answer these questions: 1. What market or industry is your good or service a part of? 2. Brainstorm how the four characteristics of market structures—number of producers, similarity of products, ease of entry, and control over prices - apply to that market or industry. Consider looking on the Internet or in print materials related to your good or service. 3. Write a paragraph explaining which market structure— perfect competition, monopoly, monopolistic competition, or oligopoly—best describes the market for your good or service. Base your explanation on your analysis from Question 2.