Introduction to Demand: Consumer Behavior
Investigating the basic factors that influence consumer demand for goods and services.
Key Questions
- Explain how changes in income or tastes affect the demand for a product.
- Differentiate between a change in quantity demanded and a shift in the demand curve.
- Predict the impact of a substitute good's price change on a product's demand.
ACARA Content Descriptions
Suggested Methodologies
Ready to teach this topic?
Generate a complete, classroom-ready active learning mission in seconds.
More in The Price of Choice: Scarcity and Markets
Defining Scarcity and Unlimited Wants
Understanding how limited resources and unlimited wants create the fundamental economic problem.
2 methodologies
Making Choices: Trade-offs and Opportunity Cost
Understanding that every economic decision involves giving up something else, and identifying the next best alternative.
2 methodologies
The Three Basic Economic Questions
Exploring the fundamental questions every society must answer: What to produce? How to produce? For whom to produce?
2 methodologies
Economic Systems: Command vs. Market
Comparing different ways societies organize their economies to answer the fundamental economic questions.
2 methodologies
Introduction to Supply: Producer Behavior
Exploring the basic factors that influence the quantity of goods and services producers are willing to offer.
2 methodologies