Unit 7: Class Discussion
Instructions
The purpose of this discussion board is to provide you with a forum to discuss your newly discovered economic concepts in light of current issues and real world situations with others in the class. In essence, it is a practice ground for ensuring that your economic reasoning and foundation are secure. This portion of the course requires you to interact with your fellow classmates.
After completing the reading, address both of the discussion questions below. Make sure to incorporate an “economic perspective” in your analysis. Respond to at least two classmates’ posts. Remember that content matters. You need to write more than “Great Job” or “I agree with you” to get full credit on your discussion responses.
Discussion Questions
Describe three businesses that you are familiar with or that you have dealt with recently.
Decide on which market structure that these businesses fit – perfect competition, monopolistic competition, oligopoly, or monopoly.
Which characteristics were most important in making your decision about the market structure of the business?