“Owning the Market”
In the lesson on oligopolies and monopolistic competition (The Whole Spectrum of the Market), Sal from Khan Academy creates a two-dimensional grid of the market types based on the number of competitors and the degree of product differentiation.
- Identify one monopoly from which you buy a good or service.
- Identify one oligopoly from which you buy a good or service.
- Identify one monopolistic competitor that you buy a good or service from.
- Share one effect you think these types of firms have on the quality of goods or services that you purchase. Is the quality affected positively or negatively? Provide a rationale for your answer.