Quarter 1 Learning Areas APPLIED ECONOMICS

WEEK 5 Grade GAS-12

Name: _________________________________________ Date: __________________

Teacher: Score: _________________

I. LESSON TITLE Perfect Market and Its Features

II. MELCs Differentiate market structures in terms of a. number of sellers b. types of products c.
entry/exit to market d. pricing power
III. OBJECTIVE/S Differentiate market structures in terms of a. number of sellers b. types of products c.
entry/exit to market d. pricing power

Activity 1
Direction. Read the following sentences, choose the letter of the correct answer. Write it on the
space provided.
_____1. Which of the following is true about a market?
a. Place where there are many buyers and sellers.
b. Someplace where anyone can rest.
c. A place where everyone can study.
d. A hall where the politicians speak to the public.
_____2. Which of the following is not an element of a market?
a. Area b. One Commodity c. Buyers d. Papers
_____3. When talking about commodities, what do we refer?
a. Buyers b. Sellers c. Products d. Areas
_____4. Why should the price of products need to be the same in the market?
a. Because of the areas
b. Because of the free competition among buyers and sellers.
c. Because of the price
d. Because of the monopoly.
_____5. How do you define a market structure?
a. As organizational and other characteristics of a market.
b. As an area where buyers and sellers’ product are spread.
c. It is related to a particular product
d. It is a relationship of the buyer and the seller.

Activity 2
Direction: Read and understand the following statements below, match column A to column B.

A B
_____1. Perfect Taking
_____2. Homogenous goods
_____3. Price Taking
_____4. No transaction costs
_____5. Free Entry and exit.
a) There are many firms in the market, to many to
measure
b) All firms sell an identical product.
c) Buyers and sellers have all relevant information about
the market including price and quality of the product.
d) Neither buyer nor seller incur costs or fees to
participate in the market.
e) There are so many buyers and sellers that each has a
negligible impact on market price.
 Activity 3

Direction. Identify whether the following is of monopoly market or an oligopoly market, Place each
of the following commodities on each proper box.

Calmar Subdivision Water District Petron National Book Store

GMA Land Bank

MONOPOLY OLIGOPOLY

Activity 4
Direction: Identify whether the following true or false, write True if it is correct and False if it is
erroneous.

___________1. Monopoly occurs when there is a single producer in the market of a certain good.
___________2. The average price of mobile phones suddenly drops by P3000 because the demand for that

particular mobile phone model decreases.

___________3. A monopoly requires products that are high priced.

___________4. Technology serves as barriers to entry into a market.

___________5. Oligopoly is a common market form where number of firms are in competition.

Activity 5
Direction: Answer the following question.

1. How can a student like you be a productive member of the society in terms of contributing to the market
economy of our country? How can you influence other students to do the same thing?

2. When you chose to be a student entrepreneur to be able to be a productive member of the society, what
are the possible business ventures will you be interested at? Why?