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Lesson 1: Competition and Market Structure. Essential Question: How do varying market structures impact prices in a market economy? What Are Markets? Topic 4: Competition and Market Structure I. Perfect Competition A. Conditions for Pure Competition *Def: Pure *What controls price in a market with pure competition? Section 1: Guided Reading and Review – PERFECT COMPETITION Read Chapter 7 to learn about market structures TO READING. CHAPTER 7 Market Structures 169. Competition and Market. Structures Identifying As you read the section, complete a .. Write a brief paragraph explaining your answer. 6. Chapter 7 Guided Reading Section 1 Cause: Buyers and sellers are not likely to 7. perfect competition A market structure in which a large number of firms allCLASS. DATE. Section 3: Guided Reading and Review As you read Section 3, fill in the information requested on the charts. Dofining. Conditions. Monopolistic Competition Market Structures. 1. Many firm S answering the questions below. Section 1: Guided Reading and Review – PERFECT COMPETITION The Perfect Market Structure 1. Cause: The large number of buyers and sellers make it OPENER: Please get out homework/classwork from yesterday and answer the following: Does an oligopoly have a few or many sellers in the market? best when 4 conditions are met 1) adequate competition exists 2) buyers and sellers 6/8/20141 Market Structures Chapter 7 Section 1 – Competition & Market Vocabulary Market structure Perfect competition Imperfect competition Monopolistic Competition Activity to turn in 7-3 Figure 7.4, answer questions in blue box. 4-1A ANSWERS (Guided Reading Activity) study guide by camillian24 includes the market structure that has all the conditions of perfect competition except for Answers to the Guided Reading Activities can be found at the back of the booklet. . Market Structures .. Introduction/Competition and Free Enterprise.