Economics – 11/15/11
I. Bellwork
- Page 184 Examining the News Clip 1-2 Q&A
II. Objective
- Review Chapter 7
- 6+1 Background information
III. Classwork
- A. Chapter 7 Review for iLearn Test
- List the characteristics of perfect competition
- List and identify the characteristics of the 4 types of market structures
- List and identify the 4 types of monopolies.
- List the 5 conditions which can cause market failure.
- What are negative externalities and how are they corrected?
- What are positive externalities and how are they corrected?
- Identify 4 different Anti-Monopoly Acts and the purpose of each.
- Identify various government agencies and their roles.
- Why does the government involve itself with the functions of a market economy?
Question: Should college athletes be paid?
Fold a paper in half by length.
On the left, list reasons supporting.
On the right, list reasons against
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