Competition makes the economy go 'round! Learn about non-price competition and other elements of game theory, along with the details of oligopolies, with a video from Crash Course Economics.

Concepts

economics, market structures, market economies, competition, monopolies, advertising, comparing prices, consumer finance

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Additional Tags

social studies

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Instructional Ideas

• Connect the lesson to a math class when discussing the payoff matrix
• Have learners examine famous cases of collusion and price fixing
• Prompt class members to write about a time when they chose one product over a very similar competitor, and why

Classroom Considerations

• Comment section is open to the public and may contain inappropriate language
• The 26th video in a series of 35 resources about economics

• This video is hosted on YouTube

Pros

• Differentiates between monopolies and oligopolies
• Real-world examples are applicable and engaging

Cons

• None

Common Core

RH.9-10.2 RH.9-10.4 RH.11-12.2 RH.11-12.4