Microeconomics
- Grade Level: Senior High (10-12)-Adult
- Subjects: Economics
- Produced By: VEA Group Pty Ltd
- Year: 2011
- Country: Australia
- Language: English
- Running Time: 19m
Add to Cart Request Free Online Full Length Preview
Add to Wish List/Quote Builder
Email a friend Share on Facebook
A fundamental proposition in economics is that people have unlimited wants, but there are limited resources, which leads to the problem of scarcity. Hence the central question in economics is how best to allocate limited resources to produce goods and services. In this program we introduce the market system, the law of demand and supply, price elasticity, market structures, market failures and government response, and many more key concepts. Featuring clear explanations, excellent graphics and examples from all over the world, this program introduces the classic concepts of microeconomics in an engaging and thought-provoking way.