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Microeconomics: Understanding the Market System

Year

2011

Producer

VEA

Country of Origin

Australia

Duration

00:19:40

Product Code

VEA11029000

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Description

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.

Key Product Data

VEA Logo

Production Year
2011

Duration
00:19:40

Producer
VEA

Country Of Origin
Australia

Subtitles
Yes

Level
Middle Secondary to Senior Secondary

Product Code
VEA11029000