Unit 1 - Introduction to markets and market failure
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Theme 1: 1.2.2 Demand
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Unit 1 - Introduction to markets and market failure
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PEARSON (PEARSON)
Book
Edexcel A level Economics A Book 1
Excellent study tool to revise the Demand section of the A-level Economics syllabus. This is tailored to the Edexcel specification but can also be used for other exam boards.
This is a relevant resource for both first-year and second-year students to revise or learn from and get the best possibl...
Theme 1: 1.4.1e Other Methods of Government Interventions
Theme 1: 1.4.1d Pollution Permits
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A/AS Level
PEARSON (PEARSON)
Economics A
Unit 1 - Introduction to markets and market failure
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Content preview
Define demand and the Explain the link
law of demand utility and price
1.2.2 - Draw a demand curve
Explain the diff
between a mov
Demand
along a curve a
a curve
Assess the variables that
impact on demand
,Understanding
demand
If the price of a good is high, do we exp
the demand to be high or low?
If the price of a good is low, do we expe
the demand to be high or low?
How might economic theory explain thi
, • Demand = ‘The amount of a good o
service that consumers are willing
able to buy at a given price in a give
period.’
Definition • Ceteris Paribus = ‘other things bein
equal.’
• Helpful to see the impact of a
change in one variable only, e.g
price
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