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Price Determination and the Market

Edexcel 9EB0T1-2cA-levelLesson packSubscription
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  • 40 marks
  • about 60 minutes
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About this resource

Edexcel Economics B (9EB0) Theme 1, Unit T1-2 (spec ref 1.3.3) — market equilibrium, excess supply (surplus) and excess demand (shortage), how the price mechanism restores equilibrium, how a shift in demand OR supply changes equilibrium price and quantity, and the limitations of the simple demand…

19 slides.

Lesson outline

  1. Do Now — Retrieval
  2. Hinge Check — Keyword Recall
  3. Market Equilibrium — Where Demand Meets Supply
  4. Reading the Equilibrium Diagram
  5. Hinge Check — What Is Market Equilibrium?
  6. Excess Supply and Excess Demand — How Price Adjusts
  7. Reading the Surplus/Shortage Diagram
  8. Hinge Check — Surplus or Shortage?
  9. Guided Practice — Shift the Equilibrium
  10. Four Ways Equilibrium Can Change
  11. Hinge Check — Working Out a Shift
  12. Main Activity — Fenwick Wholesale Fish Market
Unit bundleTheme 1 · Markets, consumers and firms
Part of: Theme 1 · Markets, consumers and firms: the whole unitEvery resource in the unit in one zip.

More from Theme 1 · Markets, consumers and firms