The Price Mechanism · Microeconomics

Market Equilibrium

Identifying the point where supply meets demand and the consequences of surpluses and shortages.

Key Questions

  1. 1How does the market naturally correct for excess supply?
  2. 2Who benefits and who bears the costs when a market is in disequilibrium?
  3. 3How do price signals communicate information to participants?

ACARA Content Descriptions

AC9EC11K03AC9EC11S04
Year: Year 11
Subject: Economics & Business
Unit: The Price Mechanism
Period: Microeconomics

Suggested Methodologies

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