The Price of Choice: Markets and Scarcity · Microeconomics

The Economic Problem

An exploration of how unlimited wants and limited resources create the necessity for choice and opportunity cost.

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

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

Suggested Methodologies

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