91399 The Efficiency of Market Equilibrium - School Use

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In this course you’ll learn what you need to know to meet NCEA Level 3 Economics Achievement Standard 91399 (Economics 3.1) ‘Demonstrate understanding of the efficiency of market equilibrium’ (4 credits, version 2).

This course is divided into three sections:

1. Market equilibrium and efficiency 

In this section you’ll learn about how to use the supply and demand model to illustrate market equilibrium, consumer surplus, producer surplus and allocative efficiency. You’ll also learn about how changes in supply and demand impact allocative efficiency.

2. Changes imposed by government on market equilibrium

In this section you’ll learn about how government interventions affect market equilibrium and allocative efficiency. You’ll look at sales taxes, subsidies, price controls and quotas.

3. Changes in international trade markets

In this section you’ll learn about how changes in international trade markets affect different market participants and allocative efficiency.

LearnWell Digital resources bring you the same great learning as in our books - but in an interactive digital format. They are accessed by using the iQualify online learning platform, where you'll find all your digital resources together in one place. 

You can find out more on the information page about our LearnWell Digital resources.