Economics

Unit 2 | Topic 4.1 | Perfect Competition

What are the characteristics of perfect competition?

Objectives

• Describe the four conditions that are in place in a perfectly competitive market.

• List two common barriers that prevent firms from entering a market.

• Describe prices and output in a perfectly competitive market.

Procedure

1. Review the Aim and notes from your initial text read.

2. Participate in the corresponding lesson topic presentation, revising notes.

3. Watch corresponding video(s); further revising notes.

4. Complete teacher instructed assignments.

Extension

• Prepare for your next class session by reading the next topic section in your text, recording alphanumeric/Cornell notes.

• Complete the next topic's Interactive Reading Notepad.