Unit 3 Our Economy Research 10.4% 8.6% 8.9% 23.2% 24.4% 24.5%
Tesco
SuperValu
Dunnes Stores
Lidl
Aldi
Other
1. Identify the type of market structure that the five supermarkets in the diagram compete in.
2. Identify the three supermarkets closest to your school. 3. How do these supermarkets try to persuade people to shop there? 4. Give three reasons why competition among suppliers is good for customers.
Chapter Review
Key Terms Checklist Using a pencil, place a
¸ in each box to indicate how
well you know and understand each Key Term. q I know and understand this Key Term.
q I am still a bit uncertain about what this Key Term means. q I don’t understand this Key Term yet.
When you revise each chapter, tick the boxes again to indicate how much you have learned.
1. 2.
A market exists wherever buyers and sellers can communicate and exchange goods for money.
q q q
A competitive market exists where there are lots of different sellers supplying similar goods who can easily enter and leave the market. There are also lots of buyers willing to buy.
