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IGCSE ECON

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?.

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IGCSE ECON

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  1. IGCSE ECON How Prices are determined _chap 7

  2. 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?

  3. 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

  4.  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?

  5. Again do the same for a fall in supply where the supply curve shifts to the left

  6. Try to do the same for the supply curve • a) price increase • b) price decrease

  7. Exam questions

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