Monopoly’s Might
Unit Description:
This unit places students in the role of entrepreneurs in a School-Based Enterprise who produce and market a low-fat avocado and seek funding from a venture capitalist. They soon face competition and eventually must make an ethical decision involving the pros and cons of monopolies. Monopoly's Might presents students with a problem of demand and supply in unfettered markets: they observe a marked decrease in demand (and price) for their product as competition increases, and realize that their own profit would increase should they become a monopoly with a valuable patent. By tracing through the changes in price, quantity, and profit over time as firms enter and leave an industry, students discover Who makes economic decisions and by what process? and What is produced and in what quantities?
Time Required:
5 - 6 days
