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Level 4 Diploma in Accounting and Business

Imperfect Market Structures, Pricing and Output

AB402 · Business and the Economic Environment — Week 11 of 16

CourseAB402
Week11 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Imperfect Market Structures, Pricing and Output

  1. Monopoly power and natural monopolies
  2. Oligopoly and game-theoretic pricing behaviour
  3. Monopolistic competition and product differentiation
  4. Barriers to entry and consumer welfare impacts
  5. Market Power Part 1 Monopoly theory
  6. The Costs and Benefits of Monopoly
  7. Economics 1 - Lecture 8: Monopoly
  8. Economics 1 - Lecture 9: Monopolistic Competition and Oligop

What you will be able to do

  • 4.4 Explain how imperfect markets can have an impact on the level of output and prices charged by a business.

Activity

Start with this week’s 4 videos, then: Seminar, guided reading and a short written task: explain how imperfect markets can have an impact on the level of output and prices charged by a business.

Study materials

Videos

  • Market Power Part 1 Monopoly theory · YouTube · David Bishai · 19 min · for registered students
  • The Costs and Benefits of Monopoly · YouTube · Marginal Revolution University · 9 min · for registered students
  • Monopolies and Anti-Competitive Markets: Crash Course Economics #25 · YouTube · CrashCourse · 10 min · for registered students
  • Game Theory and Oligopoly: Crash Course Economics #26 · YouTube · CrashCourse · 10 min · for registered students
  • Profits and Entry Barriers in Markets Explained - A Level and IB Economics · YouTube · tutor2u · 14 min · for registered students
  • Theory of the Firm - Pricing Strategies I A Level and IB Economics · YouTube · tutor2u · 7 min · for registered students
  • Economics of Market Power - Nike's Brand Dominance · YouTube · tutor2u · 11 min · for registered students

Further resources

  • Principles of Economics 3e, ch. 9: Monopoly · PDF · OpenStax, textbook chapter; pp. 231–252 · for registered students
  • Introduction to Business 2e, ch. 1.7: Competing in a free market · PDF · OpenStax, textbook chapter; pp. 38–39 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Business Classification and Sector Analysis
  • Week 2: Legal Structures and Business Ownership
  • Week 3: Organisational Structures and Financial Reporting Frameworks
  • Week 4: Stakeholder Analysis and the Internal Business Environment
  • Week 5: External Business Environment and Globalisation
  • Week 6: Macroeconomic Fundamentals and the Circular Flow of Income
  • Week 7: Aggregate Demand and Business Activity
  • Midterm: Midterm evaluation
  • Week 9: Microeconomic Factors and Elasticity Concepts
  • Week 10: Perfect Competition and Price Determination
  • Week 11: Imperfect Market Structures, Pricing and Output
  • Week 12: Applying Business and the Economic Environment in practice:…
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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