The Price of Everything: Markets and Choices · Supply and Demand
Elasticity and Consumer Sensitivity
Investigating why some goods see massive price swings while others remain stable despite changes in demand.
Key Questions
- 1Who benefits and who bears the costs of a sudden price hike?
- 2Why are some products considered necessities regardless of their cost?
- 3How does business strategy change when demand is highly elastic?
ACARA Content Descriptions
AC9HE10K01
Year: Year 10
Subject: Economics & Business
Unit: The Price of Everything: Markets and Choices
Period: Supply and Demand
Suggested Methodologies
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