Business Economics ‖ Market Structures

Goals & Objectives: Students will interpret information to be able to discover what type of
market structure a goods or service will fall into. Students will be able to identify if a good
or service is in the monopoly, perfect competition, monopolistic competition, or oligopoly.

California State Content Standards: 12.2.7. Analyze how domestic and international
competition in a market economy affects goods and services produced and the quality,
quantity, and price of those products.

Common Core Literacy Standards:

CCSS.ELA.RH.11-12.7. Integrate and evaluate multiple sources of information presented in
diverse formats and media (e.g., visually, quantitatively, as well as in words) in order to address
a question or solve a problem.

Driving Question: What market structures do goods and services fall into?

Lesson Introduction (Anticipatory Set/Hook/Accessing Prior Knowledge) ‖ Time: 3 min.

Students as a class will define new and old words that are going to be used in the lesson.

Vocabulary (Content Language Development) ‖ Time: 25min.

monopoly, perfect competition, monopolistic competition, or oligopoly

Content Delivery (Method of Instruction) ‖ Time: 25min.

There will be a lecture that students will be filling out a guided notes worksheet that has listed on
the top the four market structures; Monopoly, Oligopoly, Monopolistic Competition, and Perfect
Competition, and then listed on the side are the columns: number of firms, barriers of entry and
exit, influence of price, type of product and examples. While the power point is going on the
students will find the answers in the power point slides and after each structure is described then
as a class we will come up with goods or services that fall into that market structure.

Student Engagement (Critical Thinking & Student Activities) ‖ Time: 1 day

PERFORMANCE TASK: After the lecture is complete students will then complete a ‘Shark
Tank’ Simulation project. The students in groups of four will have to first select a goods or
service to create that does not already exist, then create a poster that includes a picture of the
product, price, and which market structure the product falls into and why. After they have
completed their poster the students with their groups will then have to pitch their product to the
class ‘Shark Tank’. In their pitch they will need to tell their investors how much money they
will need to complete their product and why their product is better than a competitor that might
be out there.

Lesson Closure ‖ Time: 10min.

Students will complete a quiz where they have to define what each market structure is and
also give an example of a goods and service that falls into that market structure.

Assessments (Formative & Summative)

Formative: Shark Tank Poster and Pitch
Summative: Quiz

Accommodations for English Learners, Striving Readers and Students with Special Needs
English Learners will be placed in groups that have students who can help with translation
if needed. Also, they are able to go on campus to the resource center for any additional
help or questions.
Striving readers have the assistance of the notes they have taken from the opening video to
assist them. Also, the vocabulary words will be defined and explained in class so they can
better understand all the words.
Students with Special Needs will be allowed to go to the resource center for additional help.
Also, they will be placed in a group that could help with assisting them if they need it.

Resources (Books, Websites, Handouts, Materials)

Economics Book
 Making A Poster : Shark Tank

Teacher Name: Ms. Chilton

Student Name: ________________________________________

CATEGORY 4 3 2 1
Title Title can be read Title can be read Title can be read The title is too small
from 6 ft. away and from 6 ft. away and from 4 ft. away and/or does not
is quite creative. describes content and describes the describe the
well. content well. content of the
poster well.

Graphics - All graphics are All graphics are All graphics relate Graphics do not
Relevance related to the topic related to the topic to the topic. Most relate to the topic
and make it easier and most make it borrowed graphics OR several
to understand. All easier to have a source borrowed graphics
borrowed graphics understand. All citation. do not have a
have a source borrowed graphics source citation.
citation. have a source
citation.
Content - At least 7 accurate 5-6 accurate facts 3-4 accurate facts Less than 3 accurate
Accuracy facts are displayed are displayed on are displayed on facts are displayed
on the poster. the poster. the poster. on the poster.

Use of Class Used time well Used time well Used some of the Did not use class
Time during each class during each class time well during time to focus on the
period. Focused on period. Usually each class period. project OR often
getting the project focused on getting There was some distracted others.
done. Never the project done focus on getting
distracted others. and never the project done
distracted others. but occasionally
distracted others.
Attractiveness The poster is The poster is The poster is The poster is
exceptionally attractive in terms acceptably distractingly messy
attractive in terms of design, layout attractive though or very poorly
of design, layout, and neatness. it may be a bit designed. It is not
and neatness. messy. attractive.