Economics in Action at Adelaide Zoo

Economics in Action at Adelaide Zoo

Stage 1 Economics students recently visited Adelaide Zoo to put their knowledge of economic theory into practice. Students explored how the zoo allocates scarce resources, including labour, capital, land and entrepreneurship, and considered the opportunity costs and trade-offs involved in its decision-making.

They also examined the role of government grants and subsidies, as well as the importance of revenue from admissions, memberships and venue hire in supporting the zoo’s operations and conservation projects.

Students applied their learning by creating economic graphs, including production possibility curves and demand and supply diagrams, to investigate how attractions and animal experiences, such as the Giant Pandas, can influence visitor numbers.

The excursion provided students with a valuable opportunity to see economics in action while enjoying the zoo’s animals, exhibits and beautiful surroundings. It was a fun and engaging day that brought classroom learning to life.

Student reflected:

“Our zoo excursion was a fun experience that allowed us to understand how economic concepts are applied in real-world businesses.” Olivia J

“It was interesting to look at businesses from a different, economic perspective and to understand what goes on in the background in order to run the Zoo. We had so much fun visiting the animals and learning about what it takes to look after them.” Lavender M

Ms Lucyna Zwolski
Teacher

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