Starter Activity

Mini-presentations from last lesson – present your
findings from Supply investigations
Lesson Objectives


To understand how Demand and Supply interact to
determine equilibrium
To understand how shifts in Demand and Supply
change equilibrium
Equilibrium



When we put Demand and Supply together we can
see that there will be one intersection point – this is
the equilibrium point
It shows the one price at which the level demanded
and supplied will be the same – at this price the
market is in equilibrium
At all other prices the market is not in equilibrium,
there will be excess supply or excess demand
Equilibrium
When price is not at equilibrium
Excess Demand or
Supply here?
When price is not at equilibrium
Excess Demand or
Supply here?
Shifting equilibrium
What things could
cause this shift?
What is the result?
Shifting equilibrium
What things could
cause this shift?
What is the result?
Homework & DST Task

Revise for a test on Demand, Supply, Equilibrium.
Plenary

Create a short revision programme for this mini-test
– highlighting strengths and areas that need special
reinforcement