Key takeaways
To understand what the market equilibrium is.
To understand how a shift in the supply curve will affect the market price.
T understand how a shift in the demand curve will affect the market price.
Host: I have taught Economics for the last 27 years, since completing my PGCSE in Business Education at Sheffield Hallam University. I have been a heard of department for the last 20 years and have worked as an examiner for AQA.Have you heard how fast the PS5 has sold out? This is an example of when the supply doesn't meet the demand. In this lesson, students will gain an understanding of how prices in a free market are decided and how shifts in the demand and/or supply curve impact on price. Common exam mistakes will be explored and students will apply the theory to demonstrate the impact of real world scenarios. This class is aimed at Years 12 - 13 but is great for any student interested in how the economy works!
Related Classes: AS Economics: The Supply Curve, AS Economics: The Demand Curve, Currency Conversions
Safeguarding reminder:The safety of your child is of the utmost importance. All of our classes are pre-recorded to remove any concerns around live participation. For reruns of our past live classes, students' webcams and microphones were disabled and only the chat history, if participation was requested, is visible.
Suitable for:
This class is suitable for students in Years 12 - 13 but is great for any student curious about economics.
Class requirements:
You will need a laptop or device with internet connection to watch the class, as well as a pen and notepad for taking notes.
What to expect:
- This class will take place online via a Zoom webinar.
- For live classes, please arrive promptly. Students' cameras and microphones are disabled by default.
- For on demand classes, students will be watching a recording of a previous live class.
- Once you have signed up, you will be taken to your dashboard where you can view details of the class, and re-watch it in the future.
- Students will be sent confirmation of the class to their email address if provided.