Economics Ch 5-6A

Welcome

Welcome to this economics website exploring market structures and firm behaviour. This site breaks down key concepts from Chapters 5 and 6 of CIA 4U Economics, using clear explanations, real-world examples, and visuals to make complex ideas easier to understand.

Markets shape the prices we pay, the choices we have, and how businesses compete. By understanding how different markets work, we gain insight into how firms make decisions and how those decisions affect consumers and society.

What You’ll Learn

Throughout this website, you’ll explore:

• The four main market structures and how they differ

• How firms decide how much to produce

• Why profits exist in the short run but disappear in the long run

• How demand curves change depending on market structure

• Why monopolies have market power and how governments respond

Each section highlights a key concept, supported by graphs, explanations, and examples to further your understanding.

Why This Matters

Market structures influence:

• Prices and availability of goods

• Competition and innovation

• Consumer choice and fairness

• Government regulation and policy

Whether it’s grocery stores, phone companies, or utilities, the ideas explored here help explain how real-world markets operate and why some industries behave differently than others.