Step-by-step process for changes in equilibrium
How to approach a question that requires you to draw a supply and demand diagram, and show the impact of a factor on price. Sometimes… Read More »Step-by-step process for changes in equilibrium
Resources
RESOURCES: Market Equilibrium
Resources on Equilibriums, for Unit 3, AOS 1. Interactive Marginal Revolution ‘University’ has this interactive quiz on finding market equilibrium. Articles Khan Academy has three… Read More »RESOURCES: Market Equilibrium
Resources: Law of Supply
Articles Khan Academy, Law of Supply (article), part of their Law of Supply unit. Quizlet, Law of Supply flashcards. Videos Supply and Demand; Crash Course… Read More »Resources: Law of Supply
RESOURCES: Law of Demand
The law of demand states that a higher price leads to a lower quantity demanded and that a lower price leads to a higher quantity demanded. Khan… Read More »RESOURCES: Law of Demand
VIDEO: Production Possibilities Frontier
Jacob Cliffords has a couple of great videos on the Production Possibilities Frontier (PPF). Production Possibilities Curve Review (5.35 mins) Shiting the Production Possibilities Curve… Read More »VIDEO: Production Possibilities Frontier
RBA: Summary of Economic Conditions Nov 2022
The Reserve Bank of Australia (RBA) publish a quarterly Statement on Monetary Policy. It’s approx 85 pages and somewhat technical. Fortunately they also do a… Read More »RBA: Summary of Economic Conditions Nov 2022
Films and documentaries
Films and documentaries relevant to VCE Economics. Based on the Economics resource list published by the VCAA. Note: Links to external websites may require a… Read More »Films and documentaries