2.4 Jack of all trades

• Economie
• Middelbare school
• vwo
• Leerjaar 3

2.4 Jack-of-all-trades

Program

1. Quick explanation

2. Group assignments

3. Book assignments

4. Check/discuss homework

Lesson goals

you are able to explain the different market situations (monopoly, oligopoly) 

You are able to explain what a cartel is and a price war

You are able to explain monopolistic competition and perfect competition

Competition

Monopoly

• A market that is controlled by one company
• Microsoft (Windows)

Oligopoly

• Few providers (2-7)


• The providers have a good control of the market
• Supermarkets, natural gas, mobile phones and cola

Oligopoly

• In a oligopolistic situation the different companies closely monitor each other
• They will react to price differences --> price war 
• Companies can as well agree to not compete with each other --> cartel
• Cartels are not allowed by the European Union
• Cartels remain secret!

Group assignment

Create a group of 3 students

Chose either the topic of aprice war or cartels 

You have 20 minutes time to find a good example of a situation in which there was a big price war or the creation of a cartel

Create a powerpoint presentation (key findings, pictures) so you can give a short presentation about the situation

Monopolistic competition

• Many providers
• Heterogeneous product (different quality, price, service, etc.)
• Bread(price, quality, service) or Dutch petrol (quality/service)

Perfect competition

• Many providers 



• Homogeneous product



• Leeks
• Price

Lesson goals

you are able to explain the different market situations (monopoly, oligopoly) 

You are able to explain what a cartel is and a price war

You are able to explain monopolistic competition and perfect competition

Assignments

• Start making the assignments from 2.4 (1 t/m 10)

Homework

• Discuss the homework (paragraph 4.3)