{"id":188,"date":"2010-09-13T09:39:34","date_gmt":"2010-09-13T15:39:34","guid":{"rendered":"http:\/\/opengecko.com\/ib-economics\/markets\/"},"modified":"2010-09-13T18:03:01","modified_gmt":"2010-09-14T00:03:01","slug":"markets","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/ib-economics\/markets\/","title":{"rendered":"Markets"},"content":{"rendered":"<p>What is a market?<\/p>\n<p>View this slideshow to prompt discussion \/ thought about what the phrase \u2018market\u2019 can mean in Economics:<iframe loading=\"lazy\" height=\"451\" src=\"https:\/\/docs.google.com\/present\/embed?id=djtc82k_2323cq2r2fh&amp;interval=5&amp;size=m\" frameborder=\"0\" width=\"555\"><\/iframe><\/p>\n<p>MS Powerpoint version of above: <a href=\"http:\/\/opengecko.com\/resources\/economics\/markets\/Markets.ppt\">http:\/\/opengecko.com\/resources\/economics\/markets\/Markets.ppt<\/a><\/p>\n<p>MJMFoodie introduces the concept of markets and explains the importance of the price mechanism (but does not yet explain how that actually works \u2026 that comes later ..,):<\/p>\n<p> <object width=\"600\" height=\"475\"><param name=\"movie\" value=\"http:\/\/www.youtube.com\/v\/3shDwU-Y8G4?fs=1&amp;hl=en_GB&amp;rel=0&amp;color1=0x234900&amp;color2=0x4e9e00\"><\/param><param name=\"allowFullScreen\" value=\"true\"><\/param><param name=\"allowscriptaccess\" value=\"always\"><\/param><embed src=\"http:\/\/www.youtube.com\/v\/3shDwU-Y8G4?fs=1&amp;hl=en_GB&amp;rel=0&amp;color1=0x234900&amp;color2=0x4e9e00\" type=\"application\/x-shockwave-flash\" allowscriptaccess=\"always\" allowfullscreen=\"true\" width=\"600\" height=\"475\"><\/embed><\/object>  <\/p>\n<p>&#160;<\/p>\n<p>We now need to understand the structure of the market. We can say that there are different types of market which lie somewhere along a spectrum of market structures. There are two theoretical extremes to this spectrum (perfect competition and monopoly).&#160; <\/p>\n<p>Again, a useful instructional video by MJMFoodie should provide guidance here:<\/p>\n<p> <object width=\"600\" height=\"475\"><param name=\"movie\" value=\"http:\/\/www.youtube.com\/v\/9Hxy-TuX9fs?fs=1&amp;hl=en_GB&amp;rel=0&amp;color1=0x234900&amp;color2=0x4e9e00\"><\/param><param name=\"allowFullScreen\" value=\"true\"><\/param><param name=\"allowscriptaccess\" value=\"always\"><\/param><embed src=\"http:\/\/www.youtube.com\/v\/9Hxy-TuX9fs?fs=1&amp;hl=en_GB&amp;rel=0&amp;color1=0x234900&amp;color2=0x4e9e00\" type=\"application\/x-shockwave-flash\" allowscriptaccess=\"always\" allowfullscreen=\"true\" width=\"600\" height=\"475\"><\/embed><\/object>  <\/p>\n<p>&#160;<\/p>\n<p>Now see if you can apply your understanding from the above to the images in this slideshow:<\/p>\n<p> <iframe loading=\"lazy\" height=\"451\" src=\"https:\/\/docs.google.com\/present\/embed?id=djtc82k_244d7dpsqd5&amp;size=m\" frameborder=\"0\" width=\"555\"><\/iframe>  <\/p>\n<p>MS Powerpoint version of above: <a href=\"http:\/\/opengecko.com\/resources\/economics\/markets\/Market%20Structure.ppt\">http:\/\/opengecko.com\/resources\/economics\/markets\/Market%20Structure.ppt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is a market? View this slideshow to prompt discussion \/ thought about what the phrase \u2018market\u2019 can mean in Economics: MS Powerpoint version of above: http:\/\/opengecko.com\/resources\/economics\/markets\/Markets.ppt MJMFoodie introduces the concept of markets and explains the importance of the price mechanism (but does not yet explain how that actually works \u2026 that comes later ..,):&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[120,124,121,123,122,125],"class_list":["post-188","post","type-post","status-publish","format-standard","hentry","category-ib-economics","tag-market","tag-monopolistic-competition","tag-monopoly","tag-oligopoly","tag-perfect-competition","tag-price-mechanism"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=188"}],"version-history":[{"count":3,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/188\/revisions"}],"predecessor-version":[{"id":192,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/188\/revisions\/192"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}