Lesson: How Monopolies Form: Barriers to Entry
What did you learn?
What did you learn?
| Reflect |
Use this checklist to reflect on your understanding of key lesson concepts.
| I am able to… | Definitely | With help | Not at all |
| distinguish between a natural monopoly and a legal monopoly |
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| explain how economies of scale and the control of natural resources led to the necessary formation of legal monopolies |
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| analyze the importance of trademarks and patents in promoting innovation |
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| identify examples of predatory pricing |
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If you selected “with help” or “not at all,” to any of these concepts, go back to the lesson to review the relevant sections.