Different Products, Many Sellers: Monopolistic Competition
Students will explore markets where many businesses sell similar but slightly different products, using branding and advertising to attract customers.
Key Questions
- Why do many brands sell similar products, like different types of shampoo?
- How do companies try to make their product stand out from others?
- How does advertising influence our choices in these markets?
MOE Syllabus Outcomes
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in Firms and Market Structure
How Businesses Make Things: Inputs and Outputs
Students will explore the basic process of how businesses turn resources (inputs) into goods and services (outputs), and understand that making things costs money.
3 methodologies
Business Goals: Making Money and Selling Products
Students will understand that a main goal for most businesses is to make a profit by selling their products, and how they think about how much to sell and at what price.
3 methodologies
Many Sellers: Competition in the Market
Students will explore markets where there are many businesses selling similar products, leading to competition and often lower prices for consumers.
3 methodologies
One Seller: Understanding Monopolies
Students will learn about situations where one company is the only seller of a product or service, and discuss the advantages and disadvantages of such a market.
3 methodologies
Few Sellers: The Power of Oligopolies
Students will learn about markets dominated by a few large companies, and how their decisions often depend on what their competitors do.
3 methodologies