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SingaporeEconomicsQuick questions
The Price Mechanism and Its Applications
Quick questions on Market equilibrium and price determination explained: H2 Economics
3short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Define market equilibrium. [2 marks]
What is q2?Show answer
Explain how a market eliminates a surplus. [3 marks]
What is q3?Show answer
Demand rises and supply falls. State the effect on price and quantity. [2 marks]
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