← Business Studies / 1 Business and Its Environment
1.5 Marketing
Business Studies · Grade 11 · 16 lessons in the design
What this covers
- Meaning of a market and marketing
- Market competition and its importance
- Types of market competition: perfect competition, monopolistic competition, oligopoly and monopoly
- Forms of uncompetitive market practices
- Effects of uncompetitive practices on consumers and businesses
- Unethical promotion practices and ICT tools to identify them
- Measures the government uses to prevent uncompetitive market practices
- Eco-friendly packaging for sweets
What you will be able to do
- explore the importance of market competition in business
- examine the types of market competition in the economy
- evaluate forms of uncompetitive market practices in a country
- apply ICT tools to identify unethical promotion practices by business firms
- appreciate the role of market competition in the economy
Key questions
“Why is market competition healthy to an economy?”
Lessons
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The market and marketing
40 min · 1 practice tasks · quizIntroduce the meaning of a market and of marketing.
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Market competition and its importance
40 min · 1 practice tasks · quizExplain market competition and why it matters.
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Benefits of market competition
40 min · 1 practice tasks · quizExplain the benefits of competition to consumers and businesses.
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Perfect competition
40 min · 1 practice tasks · quizDescribe the features of a perfectly competitive market.
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Monopolistic competition
40 min · 1 practice tasks · quizDescribe monopolistic competition and product differentiation.
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Oligopoly
40 min · 1 practice tasks · quizDescribe oligopoly and the interdependence of few large firms.
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Monopoly
40 min · 1 practice tasks · quizDescribe a monopoly and its control over price and supply.
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Comparing the four market structures
40 min · 1 practice tasks · quizCompare perfect competition, monopolistic competition, oligopoly and monopoly.
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Forms of uncompetitive market practices
40 min · 1 practice tasks · quizExplain uncompetitive practices and their common forms.
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Effects of uncompetitive practices
40 min · 1 practice tasks · quizExplain how uncompetitive practices affect consumers, businesses and the economy.
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Collusion, cartels and price fixing
40 min · 1 practice tasks · quizExplain collusion, cartels and price fixing among sellers.
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Unethical promotion practices
40 min · 1 practice tasks · quizIdentify unethical promotion practices used by business firms.
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Using ICT to identify unethical promotion
40 min · 1 practice tasks · quizUse ICT tools to check adverts and report unethical promotion.
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Preventing uncompetitive market practices
40 min · 1 practice tasks · quizExplain how the government identifies and prevents uncompetitive practices.
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Bodies that protect competition and consumers
40 min · 1 practice tasks · quizDescribe the bodies that protect competition and consumer rights.
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Eco-friendly packaging
40 min · 1 practice tasks · quizDesign eco-friendly packaging and review the marketing node.