Competition, Price and Monopolies
In a free market, unlimited human wants often meet sellers with limited supplies. In such a place, competition is usually a force of good. It leads to more choice, increases the quality of products on offer and reduces their prices. If competition is absent, monopolies can form. And that’s a problem. Learn about the basic benefits of competition.
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This video was made with the support of our Patrons: Alex Rodriguez, Andrea Basillio Rava, Angela, ArkiTechy, Artur, azad bel, Badrah, Cedric.Wang, Daniele Diniz, David Markham, Delandric Webb, Digital INnov8ors, Dr. Matthias Müller-Mellin, Duane Bemister, Eva Marie Koblin, Fatenah G Issa, Floris Devreese, Frari63, Gerry Labelle, Ginger, Harmoniac Design, ICH KANN DEUTSCH UND ES WAR EINFACH!, Jana Heinze, Jannes Kroon, Jeffrey Cassianna, Jim Pilgrim, Joanne Doyle, John Burghardt, Jonathan Schwarz, Jorge Luis Mejia Velazquez, jun omar ebdane, Khadijah Sellers, Leonel, Linus Linderoth, Liskaya, Marcel, María, martin, Mathis Nu, Mezes.Macko, Michael Paradis, Mindozone, Natalie O’Brien, Nicki, Okan Elibol, Oweeda Newton, Peter Bishop, Raymond Fujioka, Roel Vermeulen, Scott Gregory, scripz, Sebastian Huaytan Meder, Si, Stefan Gros, Stephen Clark, Stuart Bishop, Susan Schuster, Takashi HIROSE, Thomas Aschan, Tristan Scifo, Victor Paweletz, Yvonne Clapham, Zlatko Minev and all the others.Thank you! To join them visit www.patreon.com/sprouts
Script: Jonas Jaquet and Jonas Koblin
Script Editor: Morgan Lizop
Fact-checking: Ludovico Saint Amour Di Chanaz
Artist: Pascal Gaggelli
Editing: Peera Lertsukittipongsa
Sound Design: Miguel Ojeda
Production: Selina Bador
Tarantella – Adieu Adieu
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Visit our website to learn more about suggested active learning activity on this topic!
00:21 The definition
01:00 The full story
01:15 Competing on price
01:44 Non-price competition
02:12 Free market scenario
02:41 Spectrum of competition
04:06 Tell us how you would compete
04:34 Patrons credits
04: 43 Ending
#sproutslearning #economics #competition #price #monopoly