Author(s): Geoff Evans
Economics relates to everyday life ÃÂ it helps us understand how our complex world works, and the reasons for and effects of the decisions we make as consumers and producers. Examples of wider-ranging economic decisions can be seen in news reports every single day. The concept of the market is central to modern economics ÃÂ actions there affect us personally (for example in our income and spending patterns) and globally (for example through environmental issues and conflict). Economics for the Market focuses on how consumers and producers interact in the market to satisfy their wants, and how this influences what will be produced, and' in what quantity. It investigates how demand and supply interact to determine equilibrium price and quantity, and the effects of a wide range of factors on the market. Economics for the Market follows the Level 1 Achievement Standards based on the Economics syllabus for schools. It provides resources for all sections of the Year 11 course in an attractive and very readable format.