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EnglandEconomicsQuick questions
3.1 How markets work
Quick questions on Price determination - AQA GCSE Economics
3short 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 are algebra slips in calculations?Show answer
Move terms carefully and always substitute back to check both equations give the same quantity.
What is q1?Show answer
Define market equilibrium. [2 marks]
What is q2?Show answer
Explain what happens in a market if the price is set above the equilibrium price. [3 marks]
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