90986 Consumers, Producers, Government and Market Equilibrium
This course covers the things you'll need to know and be able to do for achievement standard 90986.
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?
How you'll learn
There are a variety of ways you can learn and interact with the materials in this course.
Self-paced learning – the material is set up so you can learn at your own pace. Although there are 'suggested' times for each page, they're just a guideline - plan your learning to suit you.
Practice activities – throughout this course there are short activities. These activities are for you, not for someone to mark them. These activities give you a great chance to practice what you've learned and compare your answer to the model feedback. Look at the feedback carefully to see if you have missed out any aspects from your answer.
Submitting photos – sometimes people find it easier to scribble down a diagram or show their working with pen and paper. No problem! You can still store all your working and diagrams with the activity. That way you'll be able to refer back to your answers when you're revising. Simply take a photo of your work and upload it with the relevant activity.