The Price of Everything: Markets and Choices · Supply and Demand
Market Failures and Interventions
Analyzing situations where the market fails to allocate resources efficiently and the role of government correction.
Key Questions
- 1What happens when the market price does not account for environmental damage?
- 2Who benefits and who bears the costs of government price ceilings?
- 3What incentives are driving this behavior in the absence of regulation?
ACARA Content Descriptions
AC9HE10K01AC9HE10S04
Year: Year 10
Subject: Economics & Business
Unit: The Price of Everything: Markets and Choices
Period: Supply and Demand
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in The Price of Everything: Markets and Choices
The Mechanics of the Market
Students examine the laws of supply and demand and how they reach equilibrium in a competitive market.
3 methodologies
Elasticity and Consumer Sensitivity
Investigating why some goods see massive price swings while others remain stable despite changes in demand.
2 methodologies