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Grade 3
Economics and Financial Literacy
Economic Systems
17. Market Economy
17.1 Competition
Master Competition in Market Economy
You will learn how businesses compete for customers and why competition benefits everyone in a market economy.
What You'll Learn
You learn how businesses compete to attract more customers
Competition happens when businesses offer different prices and services
You discover why competition gives customers better choices overall
Businesses use various strategies to win customers from competitors
What You'll Practice
1
You identify competition between businesses in neighborhood story scenarios
2
You explain how businesses compete through pricing and service
3
You recognize competition benefits customers with better deals choices
Why This Matters
You need to understand competition because it affects every purchase you make and helps you recognize how businesses work to earn your family's money.
This Unit Includes
1 Video lesson
Practice exercises
Learning resources
Skills
Competition
Market Economy
Business Strategy
Customer Choice
Economic Principles
GA Curriculum Aligned