Disadv: Corporation: Adv: Disadv: Incentive for b. Explain the role of Entrepreneurs profit as an incentive for entrepreneurs. Market Structures Monopoly: Define monopoly, c. Identify the basic oligopoly, monopolistic Characteristic: characteristics of competition and perfect monopoly, oligopoly, (pure) competition. monopolistic Oligopoly: competition, and pure Identify the basic competition characteristics of each Characteristic: market structure. Monopolistic Competition: Characteristic: Perfect Competition: Characteristic: Concepts” “Macroeconomic SSEMA1 The student will illustrate the means by which economic activity is measured. Concept Task Response GDP 319-327 Define Gross Domestic GDP: Product. Real GDP: Current/Nominal GDP:
Disadv: Corporation: Adv: Disadv: Incentive for Entrepreneurs b. Explain the role of profit as an incentive for entrepreneurs. Market Structures c. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition Define monopoly, oligopoly, monopolistic competition and perfect (pure) competition. Identify the basic characteristics of each market structure. Monopoly: Characteristic: Oligopoly: Characteristic: Monopolistic Competition: Characteristic: Perfect Competition: Characteristic: “Macroeconomic Concepts” SSEMA1 The student will illustrate the means by which economic activity is measured. Concept Task Response GDP Define Gross Domestic Product. 319-327 GDP: Real GDP: Current/Nominal GDP:
econ_review_midterm_10.31_10.31.docx