Each week, sellers of packets of wildflower seeds are left with packets they cannot sell at the current market price.
Which statement best describes this market at the current price?
The price is above equilibrium, so quantity supplied is greater than quantity demanded.
The price is below equilibrium, so quantity supplied is greater than quantity demanded.
The price is above equilibrium, so quantity demanded is greater than quantity supplied.
The price is below equilibrium, so quantity demanded is greater than quantity supplied.
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.