Economics · 6th Year · Market Mechanisms and Market Failure · 1.º Período
Market Structures and Firm Behaviour
Comparing perfect competition, monopoly, monopolistic competition, and oligopoly in terms of efficiency and pricing.
NCCA Curriculum SpecificationsLeaving Certificate Economics LO 2.4Leaving Certificate Economics LO 2.5
About This Topic
Comparing perfect competition, monopoly, monopolistic competition, and oligopoly in terms of efficiency and pricing.
Key Questions
- How does market power affect consumer prices?
- What are the characteristics of an oligopolistic market in Ireland?
- How do monopolies create deadweight loss?
More in Market Mechanisms and Market Failure
Elasticity and its Applications
Examining price, income, and cross elasticity of demand and their implications for businesses and government policy.
2 methodologies
Market Failure and Externalities
Investigating public goods, externalities, and asymmetric information, and how they lead to inefficient market outcomes.
2 methodologies