Economics

Unit 2 | Topic 4.2 | Monopoly

What are the characteristics of a monopoly?

Objectives

• Describe characteristics and give examples of a monopoly.

• Describe how monopolies, including government monopolies, are formed.  

• Explain how a firm with a monopoly makes output decisions.

• Explain why monopolists sometimes practice price discrimination.

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.