Econ Unit 3

Ch 4.1-4.4 and 5.1-5.4
Business Organizations and Institutions
Unit 3 Scales
• Sole Proprietorships
• Corporations
Limited Liability Corporations
• Partnerships
• Mergers
Vertical
Horizontal
• Conglomerate
• Non-Profit Organizations
• Multi-National Corporations
• Entrepreneurship in the US Economy
Market Structures
• Perfect Competition
• Monopolistic Competition
• Oligopoly
• Monopoly
Natural Monopoly
• Non-price Competition
• Regulation and Deregulation
Firm Marginal Anylsis
• Profit max. decisions on price and output (quantity)
• Marginal Cost
• Marginal Revenue (MB)
Labor
• Labor Force and Markets
• Wage Determination

Review Videos
Market Structures
Perfect Competition
Monopoly
Regulation

Practice Problem
Unit 3 Practice Problems
Answer Form