Year 13 Economics students had an opportunity to delve into the complex decision-making oligopoly simulation during their class. The exercise provided students with firsthand experience in grappling with the uncertainties associated with business decisions within this specific market structure.

Entire class gained new experience in a slightly unconventional yet educational way

The teacher divided the students into five different teams, each representing a different company, and gave them the opportunity to make one of two decisions: either reduce prices or invest in advertising to boost revenues. However, the final outcome was determined by the decisions made by the other competing companies in the market, which were five in total.

The most successful teams had the least losses, showing their adeptness at navigating the challenges posed by the oligopolistic environment. The entire class not only had fun but also gained new experience in a slightly unconventional yet educational way.