90983 Consumer Choices Scarcity and Demand - School Use
90983 Consumer Choices Scarcity and Demand - School Use
LearnWell Digital
This version of the resource is for school use. Teachers can facilitate, and load students from their class. If you are not using this resource in class, you should purchase the home use version.
Expired NCEA Achievement Standards
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What you'll learn
This course covers the things you'll need to know and be able to do for Achievement Standard, 90983 (Economics 1.1) Demonstrate understanding of consumer choices, using scarcity and/or demand.
In it you'll find answers to questions like:
- What are the opportunity costs of economic decisions?
- What are scarcity and choices?
- How do limited means (time, money, skills) relate to wants?
- What is demand and how does demand differ from wants and needs?
- What is a demand schedule and how do we interpret one?
- What is a demand curve and how do we interpret one?
- Why might a shift of a demand curve or a movement along a demand curve happen, and what is this indicative of?
- What is the impact of a change of income on the demand for luxuries, necessities and inferior goods?
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