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The Price Mechanism and Types of Market

Edexcel 9EB0T1-2dA-levelLesson packSubscription
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About this resource

Edexcel Economics B (9EB0) Theme 1, Unit T1-2 (spec ref 1.3.4) — the three functions of the price mechanism (rationing, incentive, signalling), how firms respond to a change in demand via the price mechanism, and the difference between mass markets and niche markets.

18 slides.

Lesson outline

  1. Do Now — Retrieval
  2. The Price Mechanism: Three Functions
  3. Hinge Check — Which Function?
  4. The Rationing Function
  5. The Incentive Function
  6. The Signalling Function — Linking Back to Equilibrium
  7. Hinge Check — Don't Mix Up the Functions
  8. Guided Practice — Trace the Price Signal
  9. Mass Markets
  10. Niche Markets
  11. Mass vs Niche — Comparison
  12. Hinge Check — Mass or Niche?
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