The Price of Choice: Markets and Scarcity · Microeconomics

Consumer Sovereignty

Analyzing the power of consumers to determine what is produced through their purchasing decisions.

Key Questions

  1. 1To what extent do consumers actually control the market?
  2. 2How does advertising manipulate the concept of rational choice?
  3. 3What ethical trade-offs occur when consumers prioritize low prices over sustainability?

ACARA Content Descriptions

AC9HE8K01
Year: Year 8
Subject: Economics & Business
Unit: The Price of Choice: Markets and Scarcity
Period: Microeconomics

Suggested Methodologies

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