Beruflich Dokumente
Kultur Dokumente
AS Economics
Level
Objectives:
Define equilibrium Draw a changing market equilibrium
E-D C-B
B-A
A-A*
Analyse the effects of a changing equilibrium on price Evaluate the case of shifts in supply and demand on equilibrium prices
Starter
Draw an economy in equilibrium. Draw a diagram showing excess supply.
P2
P1 D2 D1
Q1 Q2
Qty
P1
P2 D1 D2
Q2 Q1
Qty
S1 S2
P1 P2 D
Q1 Q2
Qty
S2 S1
P2 P1 D
Q2 Q1
Qty
S2 S1
P2 P1 D2 D1
Q2
Q1
Qty
S1 S2
P1 P2 D1 D2
Q1
Q2
Qty