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ZIMSEC O-Level Economics

6.7.1Markets and the price mechanism

Markets and the price mechanism in ZIMSEC O-Level Economics: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic17 practice questions1 lesson

Learning objectives

What the syllabus expects you to be able to do.

  1. 6.7.1.1Form 2: describe how buyers and sellers interact in a market and how prices allocate resources.

Lessons

  • Markets and the price mechanism

    28 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Markets and the price mechanism: sample question

1 mark

During a drought the price of maize rises, and only those willing and able to pay the higher price buy maize. Which function of prices is this?

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