Card 1 of 25
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.
Card 1 of 25
1.2.6 Price determination Flashcards
25 flashcards on Edexcel A A Level Economics 1.2.6 Price determination: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.