Category: Grade 10 Individuals and Societies

Monopolies 10D – Wed cover work

As I am not in Wed please see work below.

Lesson 1 –MONOPOLIES

What are monopolies? Are monopolies good or bad? Sometimes they offer more benefits than disadvantages, other times more cons.
Think of some examples of monopolies in our community?

Watch the video below and read all the articles/slideshows

Video economics – monopolies explained simply

Indian railways

DeBeers

The importance of competition – monopolies

Monopoly slideshow

In groups of 2 or 3 find 2 real world examples of companies with a monopoly on their market:

  • One with positive social outcomes
  • One with negative social outcomes

Homework – Grade 10 I&S – ATL folios – links to presentations and comments on TSCs

For homework this weekend please make sure you decide on how you are going to present your Market failure analysis.

You should also have added comments on your TSCs identifying which ATLs we will focus on for the assignment see links below.

TSC 10 – 1

TSC 10 – 4 

You should also decide what one or two particular things you would like to focus on yourself in creating or presenting your presentation and write them on the docs below. We will use these for peer assessment and feedback

Links to presentations and feedback sheet 10 -1 & 10 – 4

You need to create an ATL portfolio to keep track of the skills you are honing and acquiring over the course of the year. You may use a copy of the one you did last year if you were happy with that and maybe also keep your gr 9 one to refer to later ( to see how you are progressing)

10 – 1

10 – 4

 

MARKET FAILURE ASSESSMENT

Market failure assessment

You all read and decided on one of these articles and we discussed some of the issues.  We can now do this as a formal assessment. So you can continue working on it and follow the layout below. Think about how you might present it. You may work with your partner or alone. You may even choose to focus on a different article if you wish. 

Layout:

1) Summarise what the main point of the article is – point out any controversy

2) Explain why the market is failing to be efficient (at equilibrium)

3) Identify the private and third party costs and or benefits

4) Identify the stakeholders in the market and explain if they are hurt or helped and why

5) Explain 2 or 3 possible solutions and evaluate how well they might work given the context of the situation. Evaluate which one is best suited to address the imbalance.

Remember:

You may use a diagram to explain your reasoning – look at those on the worksheet.

Judgments are made that are supported by effective and balanced reasoning.

  • Make judgments – be specific about what you think.
  • Support judgments with appropriate reasoning – explain why you came to that conclusion and mention the evidence you have for making assumptions or synthesising points.

Consider alternative points of view (be clear about specific stakeholders) or alternative outcomes to the ones you have discussed. Also support these alternatives or rank in order of priority/effectiveness. Give room for claims and their counterclaims.

Here is an example.

In groups of 2: Pick a recent article depicting a market failure and analyze it using the 5 points above. You will present your findings to the class.

  • Presentations should be between 3 and 5 minutes long
  • You may record a video

Hyperlink your presentations here.

Due date 10 -1 & 10-4 = Sept 13th

Before we start lets look at the TSC and decide on the ATLs we will focus on as a class and those you will focus on individually – You need to create an ATL folio to add to throughout the year.

TSC 10 -1 (A C & D) 

TSC 10 -4 (A C & D)

 

MARKET FAILURE ARTICLES

Exercise 2:  In groups of 2

Read one of the following articles, describe it to the class while explaining:

We will discuss some of your findings in class.

You can focus on one of these articles for your assessment or look at some others before choosing.

 

Mon 28 Aug 10 D – Market failure cont

Exercise 2:  In groups of 2

Read one of the following articles, describe it to the class while explaining:

Exercise 3: As a class, we will play Externalities mystery!

You will be divided into 8 groups of 2 or 3

  • Each group will briefly explain wether the hospital should be built or not, base don their card’s perspective.
  • We will then have small discussions on wether or not the hospital construction should go ahead.
    • What were the reasons for your decision?
    • Why were those reasons more significant than any other reason?
    • What other factors might it depend on?
    • What else might you want to know before making a final choice?

Then:

  • Which costs are private costs/benefits, and which are external?
  • Can we put a value on any of these externalities?
  • Who is likely to benefit/suffer the most as a result of the hospital project?

If time:

How is Christmas an externality?

Or spot all the externalities in Dr Seuss’ the Lorax

10 1 & 4 Economics – Market Failure 21 to 30th August

InS 10: Introduction to Market Failure

See this doc It has a simple intro

In groups, discuss:

  • What do you know about pricing?
  • How do companies calculate the cost of a good?
  • Why are similar goods sometimes priced differently?
  • Why are goods different prices in different places?

 

Once again:

  • What is supply and demand?
  • Give a concrete example

Market failure is when pricing mechanism leads to an inefficient allocation of (scarce) resources and loss of economic welfare

Today, we will only consider 2 types of market failure: positive and negative externalities

Externalities are the consequence of an industrial or commercial activity which affects other parties without this being reflected in market prices

  • What is not included in the price of:
    • Cigarettes?
    • Cars?
    • Tree planting?
    • Education?

How can we adjust prices, now that we know their externalities?

Externalities do not have to be about pricing. Any activity that has an unintended impact on a third party can be seen as an externality.

PPT

Exercise 1: In your table groups

  1. Define and give one example of:
  • Private cost
  • Social cost
  • Social benefit

2. Explain 2 positive and 2 negative externalities  in the school. (Social benefit and social cost)

Exercise 2:  In groups of 2

Read one of the following articles, describe it to the class while explaining:

Market failures

 

Exercise 3: As a class, we will play Externalities mystery!

You will be divided into 8 groups of 2 or 3

  • Each group will briefly explain whether the hospital should be built or not, based on their card’s perspective.
  • We will then have small discussions on wether or not the hospital construction should go ahead.
    • What were the reasons for your decision?
    • Why were those reasons more significant than any other reason?
    • What other factors might it depend on?
    • What else might you want to know before making a final choice?

Then:

  • Which costs are private costs/benefits, and which are external?
  • Can we put a value on any of these externalities?
  • Who is likely to benefit/suffer the most as a result of the hospital project?

If time:

How is Christmas an externality?

Or spot all the externalities in Dr Seuss’ the Lorax

Monday’s lesson 10 B

I am absent on Monday so you will have a cover teacher. I want you to get ready for a General knowledge quiz on Tuesday.

On Monday in the lesson you need to get into teams of 2, 3 or 4 and produce 4 quiz questions, for a quiz we will have on Tuesday’s class. 

Please make a copy of this google doc and add your group name. Share it with me and your group only – please give me editing rights.

Follow the instructions and have your questions sorted by the end of the double lesson. We will have the quiz no Tuesday.

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