Big Businesses and Competition
Understanding how large companies can sometimes dominate markets, and why competition is generally good for consumers.
Key Questions
- What happens when only one or a few companies sell a particular product?
- How does competition among businesses benefit consumers?
- Discuss how governments try to ensure fair competition in markets.
MOE Syllabus Outcomes
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in Market Failure and Efficiency
When Markets Don't Work Perfectly
Introducing the idea that sometimes free markets don't lead to the best outcomes for society, and why.
2 methodologies
Negative Side Effects of Production/Consumption
Exploring how some economic activities create costs for third parties (e.g., pollution from factories, noise from construction) and how these are addressed.
2 methodologies
Positive Side Effects of Production/Consumption
Exploring how some economic activities create benefits for third parties (e.g., vaccinations, education) and how these can be encouraged.
2 methodologies
Goods for Everyone: Public Goods
Understanding goods that everyone can use without preventing others, and why the government often provides them (e.g., street lights, national defense).
2 methodologies
The Problem of Unequal Information
Discussing situations where one party in a transaction has more or better information than the other, leading to potential problems.
2 methodologies