ZIMSEC O-Level Economics

6.7Market equilibrium

Market equilibrium in ZIMSEC O-Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.

Topic71 practice questions4 lessons

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Lessons

Markets and the price mechanism
28 min
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Market equilibrium, shortages and surpluses
25 min
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Price changes and the new equilibrium
30 min
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Maximum and minimum prices (price ceilings and floors)
30 min
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Sample question

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Market equilibrium: sample question

The table shows the daily market for cabbages in a fictional town.

Price per cabbage (US$)	Quantity demanded (per day)	Quantity supplied (per day)
0.35	1,180	620
0.45	1,040	760
0.55	900	900
0.65	760	1,040
0.75	620	1,180

What is the equilibrium price?

Choose one answer

AUS$0.45
BUS$0.65
CUS$0.55
DUS$0.75

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