Name:___________________________________________ G12 - ___________________________________

WEEK 5: MARKET STRUCTURES

Applied Economics Worksheet

INTRODUCTION
This worksheet was made for you to accomplish at home at your own pace within this week. Activities will allow you to
independently learn and recall applicable lessons while developing your reading comprehension skills.

WHAT YOU KNOW & NEED TO KNOW

After looking at the basic principles of demand and supply, it will also be helpful to learn about the market structures in
which sellers can operate. MARKET STRUCTURE refers to the competitive environment in which buyers and sellers
operate.
COMPETITION is the rivalry among variuos sellers in the market. As a student, you are familiar with the word
competition. You were exposed to competitions in school like Spelling Bees and Sports Fests.
The market is a situation of diffused, impersonal competition among sellers who COMPETE to sell their goods and
among buyers who use their purchasing power to acquire the available goods in the market.
Source: Applied Economics (First Edition) by Dinio and Villasis

DIFFERENT MARKET STRUCTURES

WRITTEN WORK: Copy and complete the following table on a sheet of yellow paper.

FACTORS PERFECT MONOPOLY MONOPOLISTIC OLIGOPOLY

COMPETITION COMPETITION

Number and size firms

Type of product

Degree of Mobility of
Resources

Ease of Entry and Exit

of Firms into or from
this structure

Power to Influence
Prices

Give an industry with

this type of structure

Prepared by: Roseneth R. Yu

Performance task – Group work
1. Form a group with 3 members. Discuss and answer the following:
A. Economists agree that it is better to have competitive industries in an economy than monopolies. Think of a
competitive industry (example Fast Food industry and list down advantages of having competition here.
Discuss prices, quality and amount of goods available in your answer/ analysis.
B. Think of a situation in which monopoly may be better for the consumer. Specifically describe why this
particular industry as a MONOPOLY is better for the consumer.
2. Present your answers creatively (include pictures or illustrations) using short bond paper.
3. Your output will be graded based on Content (30 pts), Creativity/ Presentation (10 pts), and Technical Elements
(followed directions) (10 pts).

Prepared by: Roseneth R. Yu