VIDEO: WHY COMPETING BUSINESSES CLUSTER TOGETHER (4 minute video + exercises)
Business compete for the best location to attract consumers. Yet why are so many competitors located together? This cartoon uses mathematical game theory to explain this phenomenon. Watch the video on TedEd and answer the online questions accompanying the lesson.
Here is the link to the TedEd video:
Great lesson for advanced English learners! I had a bit of trouble following the percentages of market the competing ice cream sellers had as they repositioned their carts in the video.
ReplyDeleteYour follow-up questions are great! As I mentioned in one response, the subject matter is engaging. Everyone has experience in this area and it's fairly easy to form opinions. Some of the tasks, like drawing a map with all the businesses in one's community is a rather large task. I'd suggest limiting it to one section of town. I imagine the response of this kind of activity would be interesting to read by both students and the instructor. Good job!
Thanks, Prof. Bob. I hope to try the mapping activity with the two-block downtown district of Lawrence, Kansas. For example, There are three bookstores within half a block of each other. If book shoppers are lucky enough to find a parking meter, they can browse to their heart's delight!
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