igcse econ
Post on 30-Dec-2015
34 Views
Preview:
DESCRIPTION
IGCSE ECON. How Prices are determined _chap 7. A Try to draw the situation, which happens when demand shifts to the left. Use the table to give 3 reasons why this may happen When might a fall in incomes lead to an increase in the demand for a product and vice versa?. - PowerPoint PPT Presentation
TRANSCRIPT
• A Try to draw the situation, which happens when demand shifts to the left. Use the table to give 3 reasons why this may happen
• When might a fall in incomes lead to an increase in the demand for a product and vice versa?
• Try to draw a supply and demand diagram showing equilibrium price and quantity
• Do the same for excess supply and excess demand.
• Using housing as an example try to explain excess supply and demand in your own words
• If there is a fall in demand the opposite happens. Draw the diagram to show the effect of a fall in demand, where the demand curve shifts to the left.
• If there was a change in price of mars bars, why wouldn’t the demand curve shift?
top related