Economics · 5th Year · Markets, Prices, and Consumers · 2.º Período
Market Equilibrium and Price Determination
Students learn how the interaction of supply and demand determines market equilibrium prices and quantities.
NCCA Curriculum SpecificationsNCCA Economics LO 2.5NCCA Economics LO 2.6
About This Topic
Students learn how the interaction of supply and demand determines market equilibrium prices and quantities.
Key Questions
- How is market equilibrium achieved?
- What happens when there is excess supply or demand?
- How do markets respond to external shocks?
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