Equilibrium and Market Changes
Equilibrium and Market Changes
Equilibrium occurs where demand equals supply. The crossing point gives the equilibrium price and equilibrium quantity traded.
Step-by-step lessons on OCR GCSE Economics 2.4.4 Analyse the interaction of demand and supply. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.