TY - ADVS AU - Breitenmoser,Kurt AU - Henderson,Christine AU - Traynor,Rosie ED - Video Education Australasia. TI - Microeconomics: understanding the market system U1 - 338.5 PY - 2011/// CY - Bendigo, Vic. PB - VEA KW - Microeconomics N1 - "Program support notes available on www.VEA.com.au"--Container; Director, Kurt Breitenmoser ; writer, Christine Henderson; Narrator, Rosie Traynor N2 - "A fundamental proposition in economics is that people have unlimited wants, but there are limited resources, which leads to the problem of scarcity. Hence the central question in economics is how best to allocate limited resources to produce goods and services. In this program we introduce the market system, the law of demand and supply, price elasticity, market structures, market failures and government response, and many more key concepts. Featuring clear explanations, excellent graphics and examples from all over the world, this program introduces the classic concepts of microeconomics in an engaging and thought-provoking way"--Container ER -