ERIC Number: EJ1074418
Record Type: Journal
Publication Date: 2015
Abstractor: As Provided
Reference Count: 8
Engelhardt, Lucas M.
Journal of Economic Education, v46 n4 p430-439 2015
In this article, the author presents a price-takers' market simulation geared toward principles-level students. This simulation demonstrates that price-taking behavior is a natural result of the conditions that create perfect competition. In trials, there is a significant degree of price convergence in just three or four rounds. Students find this simulation to be a fun, educational experience that adds value to their understanding of competitive markets.
Descriptors: Economics Education, Simulation, Free Enterprise System, Competition, Class Activities, College Students, Student Attitudes
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Authoring Institution: N/A