PHOEBE WEDDINGTON
MARKET
STRUCTURES
ALL FOUR MARKET STRUCTURES
perfect, monopolistic, oligopoly, and monopoly
PERFECT COMPETITION
Online shopping, like Amazon or eBay, can be examples of perfect competition
because buyers are able to look at what the "perfect" price may be and they can
compare this price to the prices of other sellers.
MONOPOLISTIC
COMPETITION
Restaurants compete with different food
that are not perfect substitutes for other
restaurants.
OLIGOPOLY
Coke and Pepsi dominate the soda industry,
making it hard for smaller or new soda
producers to enter the market.
MONOPOLY
The only true monopoly in United
States is known as the U.S. Postal
Service, and it is allowed in the U.S.
Constitution, but no other
monopolies are allowed.
NATURAL MONOPOLY
An electrical company is assigned to a neighborhood. There is competition
between the companies but not for the consumers. This distribution of
electricity allows the high cost to be split among houses.
LIVING WAGE VS. MINIMUM WAGE
Living
Wage vs.
Minimum
Wage
Understanding the difference
MINIMUM WAGE
PROS AND CONS
PROMOTES
REDUCES
SPURS
IMPROVES
EDUCATION AND
BOOSTS
INCOME
ECONOMIC
EMPLOYEE
SELF-
PRODUCTIVITY
INEQUALITY
GROWTH
RETENTION
IMPROVEMENT
Poorest don’t
Limited impact
Unemployment
Firms may become
Cost-push
benefit
on relative
uncompetitive
inflation
poverty
LIVING WAGE
PROS AND CONS
CREATING
CREATING
RELIEF FOR
RELIEF FOR
WORKERS IN
WORKERS IN
INCREASE
REDUCE
DAY 12:
TERMS OF
TERMS OF
CONSUMER
EMPLOYEE
DEPARTURE
CHILDCARE
TRANSPORTATION
DEMAND
TURNOVER
FROM BOTSWANA
Presentations
Presentations
Presentations
Presentations
Presentations
are tools that
are tools that
are tools that
are tools that
are tools that
can be lectures.
can be lectures.
can be lectures.
can be lectures.
can be lectures.
SHOULD THE MINIMUM WAGE BECOME
THE LIVING WAGE?
I think that the minimum wage should become the living wage because I think
that an adult having a full-time minimum wage job should be able to support
themselves. However, I am afraid that doing so would only cause a game of
catch-up, where prices of items go up at minimum wage increases.