Business Studies · 1st Year · Our Economy and Society · 1.º Período
The Economic Environment
Introducing foundational economic concepts such as scarcity, opportunity cost, and the forces of supply and demand. Students explore how these concepts dictate market prices.
NCCA Curriculum SpecificationsJunior Cycle Business Studies LO 3.1Junior Cycle Business Studies LO 3.2
About This Topic
Introducing foundational economic concepts such as scarcity, opportunity cost, and the forces of supply and demand. Students explore how these concepts dictate market prices.
Key Questions
- What is the economic problem of scarcity?
- How do supply and demand affect prices?
- What is the difference between goods and services?
More in Our Economy and Society
Government and the Economy
Exploring the role of the Irish government in managing the economy, raising revenue through taxation, and providing public services.
2 methodologies
Sustainable Development
Examining the economic, social, and environmental impacts of business decisions. Students evaluate how businesses can transition to more sustainable practices.
2 methodologies