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Competition makes the economy go 'round! Learn about non-price competition and other elements of game theory, along with the details of oligopolies, with a video from Crash Course Economics.
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CCSS:
Adaptable
Concepts
Additional Tags
Instructional Ideas
- Connect the lesson to a math class when discussing the payoff matrix
- Have learners examine famous cases of collusion and price fixing
- Prompt class members to write about a time when they chose one product over a very similar competitor, and why
Classroom Considerations
- Comment section is open to the public and may contain inappropriate language
- The 26th video in a series of 35 resources about economics
- This video is hosted on YouTube
Pros
- Differentiates between monopolies and oligopolies
- Real-world examples are applicable and engaging
Cons
- None