This week we learned about many things. We learned about competition, monopolies, and regulation. We learned that Perfect Competition is the most competitive and monopolies are the least competitive. We learned about monopolistic competition and oligopoly which are between which are complete opposites and go between perfect competition and monopolies.
Perfect Competition ---------Monopolistic Competition -------Oligopoly -------------Monopoly
We learned about regulation and deregulation. We also learned about other market structures. We will learn more about these next week. Hope Everyone Did Well On the QUIZ!!!!!!!!!!!
I never knew so much about the different types of competition until last week! It's kinda sad that perfect competition does not exist very often; I wish it did because it seems as if it would be more helpful for the economy in the long run. I also wish that I could learn more about monopolistic competition. I had no idea that that even existed before this week. I hope we all did awesome on that quiz too!!
ReplyDeleteThis week was certainly interesting! Like Olivia, I too wish to learn more about monopolistic competition. It seems like a business structure that gives consumers a wide range of choices while maintaining a market with few regulations. I hope your weekend was nice!
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