Part 2: Is MLB a "Fair" Market for Players?

Research

Use an on-line glossary to define: market, competitive market, non- competitive market
(http://www.amosweb.com/gls/)
(http://www.digitaleconomist.com/)

What are the characteristics of a competitive market?

In competitive markets, factor inputs are sold at "market" prices. If market is not perfectly competitive, factor prices will be lower, all other things being equal, than they would be in a perfectly competitive case.

Activity

Use the MLB: Perfect Competition? data retrieval chart to determine how MLB meets the criteria for perfectly competitive market.

How do these criteria apply to the National Football League?

Now go on to Part 3