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1.2.6 Price determination

Why is there no tendency for price to change at the equilibrium price?

A

Equilibrium price is where quantity supplied exceeds quantity demanded, so price has no tendency to change.

B

Equilibrium price is where quantity demanded equals quantity supplied, so price has no tendency to change.

C

Equilibrium price is where demand equals supply, so both curves have no tendency to change.

D

Equilibrium price is where quantity demanded exceeds quantity supplied, so price has no tendency to change.

1.2.6 Price determination Flashcards

  1. A Level
  2. /Economics
  3. /1.2.6 Price determination

Flashcards for Edexcel A A Level Economics 1.2.6 Price determination, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 25 cards, matched to the Edexcel A A Level Economics (9EC0) specification.