Table 1 shows demand and supply for reusable coffee cups.
| Price (£) | Quantity demanded per week | Quantity supplied per week |
|---|---|---|
| 8 | 1,100 | 500 |
| 10 | 900 | 700 |
| 12 | 700 | 700 |
| 14 | 500 | 900 |
Analyse how market forces would move the market from a price of £10 towards equilibrium.
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.