This simulation is designed to teach students how a market is affected by monopolies. Students act out two scenarios as a part of this simulation.
Four to five students are identified as "sellers." They will decide on a price for their product and then attempt to earn more money than their competitors. The rest of the class are identified as "buyers." They will be given tokens. They will attempt to buy as many products as possible with their tokens.
The seller who made the most money has bought out all the other businesses! They are now a monopoly.The seller sets a new price and the buyers see how many products they are able to purchase.
Students are able to see how monopolies can control prices and the quality of products. There is a worksheet with six discussion questions that students will answer during the lesson. An answer key is included for teacher use.
This product includes:
-Discussion Question Sheet
Products NOT INCLUDED:
-75-100 "products" to sell
*I use pencils as the “product” that they are selling. The students understand that it is a necessity that must be purchased. I also have plenty of pencils in the classroom so I don’t need to buy anything for the activity.
-10 tokens per buyer
*I use small cubes from our math manipulatives since there is an abundance. Fake money could also be used. If neither is available, I have created a page of tokens that you can print, laminate, and cut to use as tokens.