The Price of Choice: Markets and Scarcity · Microeconomics

Supply, Demand, and Equilibrium

How the interaction between buyers and sellers determines the market price and quantity of goods.

Key Questions

  1. 1How do changes in consumer preferences shift market equilibrium?
  2. 2What happens to social equity when prices are left entirely to the market?
  3. 3How do government interventions like subsidies alter producer incentives?

ACARA Content Descriptions

AC9HE8K01AC9HE8S04
Year: Year 8
Subject: Economics & Business
Unit: The Price of Choice: Markets and Scarcity
Period: Microeconomics

Suggested Methodologies

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