In many countries monopolies are frowned upon if a private company has too much market share. However, if a government has a monopoly then it is accepted.
In this lesson we are going to discuss this situation.
Key Terms
Monopoly
Cartel
OPEC
Breaking up a monopoly
Market Share
Price fixing
commodities
utilities
natural resources
Add more to this list!
Questions
Why are government monopolies accepted and private ones are not?
Why as OPEC been accepted as a cartel, but not other commodities?
Does breaking up a monopoly help the industry or hurt the industry?
What are the short-term effects?
What are the long-term effects?
Can a country do what it likes with its natural resources?
Case Study:
You are being brought in to your government to give testimony about price fixing in your market. You have to prove that your company is to blame or not.
Play the scene with your Business English teacher or a colleague.
Lesson Plan by Rachael Alice Orbach, Professional English Teacher
In this lesson we are going to discuss this situation.
Key Terms
Monopoly
Cartel
OPEC
Breaking up a monopoly
Market Share
Price fixing
commodities
utilities
natural resources
Add more to this list!
Questions
Why are government monopolies accepted and private ones are not?
Why as OPEC been accepted as a cartel, but not other commodities?
Does breaking up a monopoly help the industry or hurt the industry?
What are the short-term effects?
What are the long-term effects?
Can a country do what it likes with its natural resources?
Case Study:
You are being brought in to your government to give testimony about price fixing in your market. You have to prove that your company is to blame or not.
Play the scene with your Business English teacher or a colleague.
Lesson Plan by Rachael Alice Orbach, Professional English Teacher
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