The Price of Choice: Scarcity and Markets · Microeconomics

The Economic Problem

Understanding how limited resources and unlimited wants 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 specific resource allocations?
  3. 3What trade-offs does this policy create for future generations?

ACARA Content Descriptions

AC9HE9K01
Year: Year 9
Subject: Economics & Business
Unit: The Price of Choice: Scarcity and Markets
Period: Microeconomics

Suggested Methodologies

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