what makes a market supply
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Welcome Welcome
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Welcome Welcome Recap
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Welcome Welcome Shifting the supply curve
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Welcome Welcome Identify what customers want or need
What is a want?
What is a need?
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Welcome Welcome Demand
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Welcome Welcome Why demand decreases if demand increases
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Welcome Welcome The Demand Curve
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Welcome Welcome The Factors of Demand
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Welcome Welcome Shifting the demand curve
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Welcome Welcome Move and shift
• A move along the demand or supply curve is when a change in price point results in a change in demand or supply
• A shift of the demand or supply curve is when the entire curve shifts due to external factors, such as population change, or the weather
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Welcome Welcome The basic rule of economics
Demand • Price up = quantity demand down• Price down = quantity demand up
Supply• Price up = supply up• Price down = supply down
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Welcome Welcome Market equilibrium – determinning price
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Welcome Welcome Market orientated
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Welcome Welcome Tick box timeWeek commencing
Subject area
Activity Resources
What makes a market? What should firms supply?
Students could explore the changes in the market, and charges, for mobile phones — from when mobile phones were first available to now. What do they conclude about the interaction between price, supply and demand? (See Activity sheet 2, Task 1 and 2.)
Activity sheet 2, Task 1 and 2Interaction activity and tasks on supply and demand at: www.bized.co.uk/educators/16-19/economics/markets/activity/demandsupply.htm
What consumers want or need
Students should identify a market need for a business idea of their own. Students could gain new business ideas from, eg www.start-ups.co.uk/. Why do they think that there is a potential demand for the business? This could be set as homework.
Activity sheet 2, Task 3
Additional reading:Zhang L — Identifying a Market Opportunity, Business Review, Volume 7, Issue 4, April 2001, pages 2-4
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Welcome Welcome 5 examples for each please
• In your book write
• factors that would result in a shift in the supply curve
• Factors that would result in a shift in the demand curve
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Welcome Welcome Question time
• What questions do you have based on today’s lesson?
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Welcome Welcome OK Worksheet time
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Welcome Welcome Homework
• I want you to explore the telephone market, and produce a brief report (1 side A4) on changes in the market, and charges, for mobile phones — from when mobile phones were first available to now.
• What do you conclude about the interaction between price, supply and demand?
• I’m giving you a lot of freedom with this, I do ask you keep it interesting and among all else, relevant.