http://online.clickview.com.au/mylibrary/videos/a7b3ec72-ce1f-e75f-9368-068bfd8c9df0

 

Some terms used during the video

• Market
• Consumers
• Producers
• Consumer sovereignty
• Value added
• Law of demand
• Elastic demand
• Inelastic demand
• Substitute goods
• Complementary goods
• Demand factors
• Needs
• Wants
• Production
• Factors of production
• Relative scarcity
• Law of supply
• Supply factors
• Efficiency
• Levels of government