Wednesday 18 April 2018

Educational Links And Refereces





  


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Wednesday 4 April 2018

Media

Market Structures Poster




Practice CrossWord




Across
1. large number of potential buyers but only a few sellers
3. The organizational and other characteristics of a market
4. a mathematical method of analyzing the outcomes of choices made by people or organizations that are interdependent.
5. and product differentiation as sources of market power.
6. Being of the same kind, related

Down
2. The situation prevailing in a market in which buyers and sellers are so numerous and well informed.
7. This occurs when the quantity demanded is equal to the quantity supplied.
8. Pure because the only source of market power is lack of competition.
9. Someone who sells a Product
10. Every business aims to make a ?
11. Someone who purchases a product




 Puzzle: Created By Kittanya Anderson

Posters from Google
Poster 1
Poster 2


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Topic 2 - Monopolistic Competition & Monopoly Market Structure

Monopolistic Competition 


This type of structure is free to enter and exit the market. Each organization or firm makes all the independent decisions about pricing as well as the amount of output to produce, and the overall cost of production. The products in the monopolistic competition market structure are differentiated. There are four main types of differentiation, namely:

Monopolistic competitors are most common in organizations such as
  • Hotels 
  • Barbers Shops 
  • Hair Salons 
  • Corner Shops
  • Bars and Pubs 


Monopoly

The monopoly is the type of market structure that there is only one seller that produces a unique product. There are high barriers to entry, the price of the product is determined by the seller because there is no competition or close substitutes. Monopolies have specific sources that allow them to have power in the market. These Include :
  • Economies of scale 
  • No substitutes 
  • Capital requirements 
  • Control of Natural Resources 

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Monday 19 March 2018

Videos

These video references will further help with the understanding of market structures.

Oligopoly



Monopolistic Competition



Perfect Competition


Monopoly



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Wednesday 21 February 2018

Home



Image result for informational

This is an interactive Educational Portfolio for the module Instructional Technology. 

 The content of this website is suitable for students ranging from grades 10-11.

 This website can be used as a reference to provide students with additional information about Market Structures. Market structures are the organization of any market. 

The Media utilized to enhance the learning capacity for students will be by usage of :

The aim of this website is to assist you and to help you to prepare for your upcoming CXC CSEC Examinations. 

This guide will cover : 
Also, social media will be used as means of getting students to use different media to get material. Below is a link to the Facebook group page where the informative material will be posted for their pursuant.




Business Studies Simplified (Facebook Group)


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Topic 3 - Advantages & Disadvantages



.
Image result for advantage and disadvantages



As was stated before we should be able to understand the different structures and their characteristics.  Recap :


  • Perfect competition is where there are homogeneous products and little to no barriers to entry.
  • In the oligopoly structure, only a few firms dominate.
  • In the monopolistic competition  Characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes.
  • In the monopoly, there is only one firm producing the commodity




Please check out this PowerPoint

View the Advantages and Disadvantages of the market structures. However, bear in mind that the PowerPoint only has the main points, Engage in additional reading in order to have a full understanding.


Remember creativity is Intelligence having FUN Be all that you can be!




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Thursday 15 February 2018

Topic 1 - Perfect Competition & Oligopoly


Perfect Competition 


The perfect competition market structure is where different sellers sell similar products resulting in the prices being in equilibrium !  Any increase in price will result in a decrease in the quality demanded of that product and buyers  of the good will buy more from the competition.  Let's consider an example


Ex1.  John always buys the Grace coconut milk because he thought that it had the best quality and its price was the same the Lasco brand.  The price of the Grace coconut milk increased and John started buying the Lasco brand.


Deduction
Generally, most consumers think this way in any market economy where there is a perfect competition. Any shift in price will from one competitor will affect sales.  Therefore, prices remains in constant equilibrium.Any increase in price will affect the equilibrium 

 


 Graphical Representation of an Industry In Perfect Competition 

Read more »
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Market Structures Tutorial

What is a

Market Structure?



A market structure is basically the characteristics of that market. What is meant by these characteristics?  

The characteristics range from competition , the buyers and sellers, difference in product , the barriers or ease of entry into the market as well as the exit of that market.

There are four different types of market structures that operate in an economy.  These market structures usually operate within local businesses or even well established organisations. You should be able to identify different businesses in Jamaica and in the Caribbean and the type of market structure that they operate in. 


This Lesson will widen your understanding of market structures. By the end of this lesson you should be able to : 



  1. Explain what is meant by a market structure 

  1. Differentiate between each market structure 
  1. Identify the Advantages and Disadvantages of each structure  

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