Quiz: Market Equilibrium - Where Demand Meets Supply
AQA A level economics 7136 specification
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Building on what you've learned about demand and supply, let's test your understanding of market equilibrium!
What is market equilibrium?
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Which of the following could cause a shift in market equilibrium? (Select all that apply)
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If the price is above the equilibrium price, there will be a {{blank0}} of goods, leading to {{blank1}} pressure on prices.
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Match the items on the left with their correct pairs on the right
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If quantity demanded = 500 and quantity supplied = 400, calculate the excess demand.
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What happens when there is a shortage in the market?
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Match the items on the left with their correct pairs on the right
At equilibrium, the market clears because there is no {{blank0}} or {{blank1}}.
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Which of the following statements about equilibrium price are correct? (Select all that apply)
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