How markets reach equilibrium
How markets reach equilibrium
Market equilibrium occurs at the price where quantity demanded equals quantity supplied. At this price, there is no pressure for the market price to change.
Step-by-step lessons on OCR GCSE Economics 2.4.6 Market forces and equilibrium. 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.