Cambridge AS & A Level Economics
2.4The interaction of demand and supply
The interaction of demand and supply in Cambridge AS & A Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic45 practice questions2 lessons
Learning objectives
What the syllabus expects you to be able to do.
- 2.4.1Define market equilibrium and disequilibrium.
- 2.4.2Explain the effects of shifts in demand and supply on equilibrium price and quantity.
- 2.4.3Explain relationships between markets: joint demand, alternative demand, derived demand and joint supply.
- 2.4.4Explain the functions of price in resource allocation: rationing, signalling and incentivising.
Lessons
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Functions of the price mechanism and links between markets
40 min
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Market equilibrium and the effects of shifts in demand and supply
50 min
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Sample question
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