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The Operation of an Economy
Introduction to Economics Part 2

Year

2001

Producer

Classroom Video

Country of Origin

Australia

Duration

00:21:00

Product Code

CLV01024000

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Description

There are many different economic systems throughout the world, but they all have to address the same basic questions. We investigate these questions, and use the production of bread to show how resources are combined to create goods and services, and the benefits that arise from this process. We also investigate the different sectors in an economy, households, firms, finance, government and foreign and show how they interact using the circular flow of income. Practical examples illustrate the problems faced when an economy is in a state of extreme disequilibrium.

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
CLV01024000