Quiz: How Price Changes Restore Equilibrium
AQA A level economics 7136 specification
Ready to start this lesson?
Sign in to track your progress. 11 steps including 9 interactive questions.
Sign In to Start Learning
Students also studied
Browse allSteps in this lesson (11)
You've already learned about supply and demand, elasticity, and market equilibrium. Now, let's test your understanding of how price changes help restore equilibrium in a market!
What happens when there is excess demand in a market?
Start the lesson to answer this multiple choice question
Which of the following factors might cause prices to rise to restore equilibrium? (Select all that apply)
Start the lesson to answer this multi-select question
When there is excess supply in a market, prices tend to {{blank0}} in order to restore equilibrium, encouraging {{blank1}}.
Start the lesson to answer this fill in the blank question
Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
If market demand increases by 20 units and supply remains constant, what happens to the equilibrium price?
Start the lesson to answer this math equation question
What is the main mechanism that restores market equilibrium?
Start the lesson to answer this multiple choice question
Which of the following are effects of a price above equilibrium? (Select all that apply)
Start the lesson to answer this multi-select question
Match the items on the left with their correct pairs on the right
What term describes the price at which quantity demanded equals quantity supplied?
Start the lesson to answer this multiple choice question
A price below equilibrium creates excess {{blank0}}, which puts {{blank1}} pressure on price.
Start the lesson to answer this fill in the blank question
Want to Learn More?
Get personalised lessons, quizzes, and instant feedback from your AI tutor.
Explore More Topics