In a free market, unlimited human needs often meet providers with limited supply. In such an environment, competition is usually a positive force. It leads to a wider choice, increases the quality of the products offered and lowers their prices. If there is no competition, monopolies can emerge. And that's a problem. Learn more about the fundamental advantages of the competition. Become a "Change Maker" and support Sprouts with a membership: / @sproutsdeutschland Support us - we're on Patreon! 🎁 https://bit.ly/3MqY00D Don't miss a new video with our newsletter: http://eepurl.com/dNU4BQ THANK YOU, PATREONS! 🙏 This video was created with the help of Yurou Wang and the support of our Patreons: Alex Rodriguez, Andrea Basillio Rava, Angela, ArkiTechy, Artur, azad bel, Badrah, Cedric.Wang, Daniele Diniz, David Markham, Delandric Webb, Digital INnov8ors, Dr. Matthias Müller-Mellin, Duane Bemister, Eva Marie Koblin, Fatenah G Issa, Floris Devreese, Frari63, Gerry Labelle, Ginger, Harmoniac Design, I CAN GERMAN AND IT WAS EASY! Jana Heinze, Jannes Kroon, Jeffrey Cassianna, Jim Pilgrim, Joanne Doyle, John Burghardt, Jonathan Schwarz, Jorge Luis Mejia Velazquez, jun omar ebdane, Khadijah Sellers, Leonel, Linus Linderoth, Liskaya, Marcel, María, martin, Mathis Nu, Mezes. Macko, Michael Paradis, Mindozone, Natalie O'Brien, Nicki, Okan Elibol, Oweeda Newton, Peter Bishop, Raymond Fujioka, Roel Vermeulen, Scott Gregory, scripz, Sebastian Huaytan Meder, Si, Stefan Gros, Stephen Clark, Stuart Bishop, Susan Schuster, Takashi HIROSE, Thomas Aschan, Tristan Scifo, Victor Paweletz, Yvonne Clapham, Zlatko Minev and all the others. Thank you very much! To join them, visit www.patreon.com/sprouts OUR CHANNELS English channel / sproutsvideos German Channel / sproutsdeutschland Spanish Canal / sproutsespañol And many more: www.sproutsschools.com SPROUTS TEAM Screenplay: Jonas Jaquet & Jonas Koblin Editing: Morgan Lizop Fact check: Ludovico Saint Amour Di Chanaz Artists: Pascal Gaggelli Voice: Christian "Beppo" Peters Coloration: Nalin Editing: Peera Lertsukittipongsa Sound: Miguel Ojeda Production: Selina Bador Translation: Gunnar Selm SOUNDTRACKS Tarantella - Adieu Adieu Deepen your knowledge with these videos and articles: Hear what former Uber chief economist John List has to say, and learn why competition makes it so difficult for Uber to grow its drivers' incomes — even adding tips didn't work. https://www.econtalk.org/john-list-on-scale-uber-and-the-voltage-effect/ Read this case study about Uber's price increases. https://economicsforlife.ca/wp-content/uploads/2015/10/effects_of_ubers_surge_pricing.pdf Read about cartels and why it's good for society to have strong laws against cartels. https://www.econlib.org/library/Enc/Cartels.html Competition, a good overview by Wolfgan Kastper of Econlib https://www.econlib.org/library/Enc/Competition.html Play Monopoly or Catan and learn how demand, supply, and monopolies lead to winners and losers. Watch Sprouts' video on supply and demand. https://www.youtube.com/watch?v=LTKP-mm3Hb0 SOURCES Competition (Economy) - Wikipedia.org https://de.wikipedia.org/wiki/Wettbewerb_(Economy Monopoly - Wikipedia.org https://de.wikipedia.org/wiki/Monopol Supply and demand - Wikipedia.de https://de.wikipedia.org/wiki/Gütermarkt CLASSROOM ACTIVITY Teach your students how to recognize the competition between pizzerias in their community. Then have them explain how opening a second pizzeria in a small community affects prices, profits, service, quality, and choice. Later, they are supposed to find out the benefits for consumers when there is competition in the market. Read the full guide for the Pizza Completion class activity on Econedlink.org. Or have your students play Monopoly or Catan and think after the game about how demand, supply and monopolies lead to winners and losers. LICENSE Creative Commons CC-BY-NC More information here: https://sproutsschools.com/ Original: "Sprouts Germany" Original: German. All translations in this video have been done by the alugha AI.
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