Quiz: Disequilibrium - Excess Demand and Excess Supply
AQA A level economics 7136 specification
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Building on what you've learned about market equilibrium, let's test your understanding of disequilibrium caused by excess demand and excess supply!
What is excess demand?
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Which of the following are factors that can cause excess supply? (Select all that apply)
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Excess supply often occurs when the {{blank0}} is set above the equilibrium price, leading to unsold goods.
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Match the items on the left with their correct pairs on the right
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If the market equilibrium price is £5 and the current price is £8, with supply at 100 units and demand at 70 units, what is the excess supply?
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How does excess demand affect prices?
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Which of the following outcomes can result from excess supply? (Select all that apply)
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Match the items on the left with their correct pairs on the right
What happens to quantity demanded and quantity supplied in disequilibrium caused by excess demand?
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