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EnglandEconomicsQuick questions
Microeconomics: Markets and the price system
Quick questions on Demand, supply and the price mechanism - Eduqas A-Level Economics (A520)
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Distinguish between a contraction of demand and a decrease in demand. [3 marks]
What is q2?Show answer
Explain how the price mechanism would respond to a sudden fall in the supply of wheat. [4 marks]
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