The Economic Problem and Scarcity · Economic Foundations

Scarcity and Opportunity Cost

Investigating how limited resources necessitate choice and the trade-offs involved in every decision.

Key Questions

  1. 1What incentives are driving this behavior?
  2. 2Who benefits and who bears the costs of resource allocation?
  3. 3What trade-offs does this policy create for future generations?

ACARA Content Descriptions

AC9EC11K01AC9EC11S01
Year: Year 11
Subject: Economics & Business
Unit: The Economic Problem and Scarcity
Period: Economic Foundations

Suggested Methodologies

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