In the introduction for this course, you were challenged to watch for three things you were curious about the economy. Use this curiosity as a springboard to preparing a 400 – 500 word exploration (roughly 1-2 pages) in which you pick an industry/market and develop an argument for what type of market structure that the industry must compete in. An example would be the bowling ball industry. The bowling ball industry includes all manufacturers of bowling balls. The company, Brunswick that makes bowling balls is not the industry, it is a member of the industry.
Compare and contrast your industry to each of the three characteristics of the market structure you chose and explain why the industry fits each of the characteristics of the market structure. In addition, explain why this industry is an example of market failure.
Then make a conclusion about which type of market structure your industry fits best.
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