The Economic Problem and Markets · Supply & Demand

Price Determination in Competitive Markets

Analyzing how the interaction of supply and demand establishes equilibrium prices and quantities.

Key Questions

  1. 1How do shifts in consumer preference alter market outcomes?
  2. 2What happens when prices are not allowed to reach equilibrium?
  3. 3To what extent do signals from the price mechanism influence producer behavior?

National Curriculum Attainment Targets

GCSE: Economics - How Markets WorkGCSE: Economics - Price Determination
Year: Year 11
Subject: Economics
Unit: The Economic Problem and Markets
Period: Supply & Demand

Suggested Methodologies

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