Table 1 shows weekly demand and supply for bags of compost in a local market.
| Price per bag | Quantity demanded per week | Quantity supplied per week |
|---|---|---|
| £6 | 1,400 | 900 |
| £8 | 1,100 | 1,100 |
Using Table 1, explain whether a market price of £6 per bag is likely to remain unchanged.
75 exam-style questions on OCR GCSE Economics 2.4 Price, covering 2.4.1 Price and distribution of resources, 2.4.2 Equilibrium price and quantity, 2.4.3 Draw the interaction of demand and supply, 2.4.4 Analyse the interaction of demand and supply, 2.4.5 Role of markets in allocating resources, and 2.4.6 Market forces and equilibrium. Each one has a worked solution and a mark scheme showing where the marks go.