90986 Consumers, Producers, Government and Market Equilibrium - School Use
90986 Consumers, Producers, Government and Market Equilibrium - 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‚ 90986 (Economics 1.4) Demonstrate understanding of how consumer, producer and/or government choices affect society, using market equilibrium.
In it you'll find answers to questions like:
- How do producers' and consumers' choices affect the market?
- What is the market's role in determining resource allocation?
- What is market equilibrium and its relation to‚ market supply and demand?
- How do changes in supply and demand affect the supply and demand model?
- How does the market respond to these factors and how is new equilibrium created?
- How and why does the government intervene in the market?
- What are the effects of price controls, taxes, indirect taxes and subsidies and how can these be reflected in the supply and demand model?
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