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The Nature of Economics
Introduction to Economics Part 1

Year

2001

Producer

Classroom Video

Country of Origin

Australia

Duration

00:21:00

Product Code

CLV01023000

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Description

Economics looks at how to solve the problem of limited resources and unlimited wants in society. The decisions made by the various sectors of the economy such as the household sector, business, government, financial and international sectors will influence the wants that can be satisfied. These decisions influence the combination of the four factors of production; labour, land, capital and enterprise that will be utilised. Other items examined include opportunity cost, production possibility curve analysis, sustainable economic development and international differences in how to solve the economic problem.

Key Product Data

Classroom Video Logo

Production Year
2001

Duration
00:21:00

Producer
Classroom Video

Country Of Origin
Australia

Level
Junior Secondary to Senior Secondary

Product Code
CLV01023000