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Untitled Storyboard

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  • Glide: 1
  • Perfect Competition- A bustling marketplace with identical fruit stands all selling apples.
  • Same here! We all just match the market price
  • One dollar for an apple! I can’t charge more, or no one will buy from me
  • Monopolistic Competition- A row of clothing stores, each with unique branding and designs.
  • Glide: 2
  • In perfect competition, firms are price-takers with no influence on price; they compete purely on efficiency.
  • Glide: 3
  • Our tees have eco-friendly material—slightly more, at $30.”
  • We sell vintage-inspired styles! Just $25 for a tee.
  • I like the look and feel here, even if it’s pricier.
  • Oligopoly- Two airline CEOs shaking hands with tense smiles as they see a third CEO looking over their shoulders.
  • Glide: 4
  • In monopolistic competition, brands differentiate products, allowing firms to charge higher prices due to consumer preferences.
  • Glide: 5
  • (thinking) I’ll match their price, but I have to watch them closely.
  • If we lower prices too much, a price war will break out.
  • Agreed. Let’s keep prices stable so we don’t hurt each other.
  • Monopoly- A utility company CEO in front of a huge factory, looking smug. A customer, responding,
  • Glide: 6
  • In an oligopoly, a few large firms dominate, watching each other’s moves closely to avoid intense competition.
  • Glide: 7
  • We don’t have any other options. We just have to pay.
  • As the only power provider, we control the prices. Higher rates mean higher profits.
  • Glide: 8
  • In a monopoly, one firm controls the market, setting prices with little concern for competition.
  • Glide: 9
  • Monopsony- A factory in a small town, with workers in an assembly line.
  • Since they’re the only employer in town, we can’t negotiate higher wages.
  • They control the labor market here, so we’re stuck with what they offer.
  • Glide: 10
  • In a monopsony, one buyer has significant power over many sellers, often pushing prices or wages down.
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