The Importance Of Competition

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YOUTUBE VIDEO: https://www.youtube.com/watch?v=dj-U9TDRNsA

Lesson Description

In this Business English lesson plan for adults, students watch a video and do a listening exercise about the importance of competition in business. It includes discussion questions and conversation activities about competition. Students learn some important vocabulary terms and phrases from the video. The post-viewing section includes activities on a video quote, vocabulary context usage, and rewriting sentences. The grammar activity features the usage of the subordinating conjunction "As long as...". There are additional speaking tasks included, as well as a quiz and review section.

Video Description

Industries without much competition are marked by high prices, low customer service, and a lack of innovation. But when competition thrives in a market, consumers get better goods and services at lower prices. Existing producers in the market don’t like competition, but it’s good for consumers. Some businesses will succeed and others will fail. But as long as it is easy for new competitors to enter the market, prices will stay low and innovation will continue.