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Edexcel A-Level Economics notes, Study notes of Economics

Economics

Edexcel A-Level Economics notes - Theme 1

Typology: Study notes

2025/2026

Available from 12/13/2025

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Download Edexcel A-Level Economics notes and more Study notes Economics in PDF only on Docsity!

Equilibrium price and quantity - The price at which demand and supply are equal. Price D () Gvomtiry Excess demand - when demand is greater than supply Pri s p Pr y) Qs Q Qd Gvomti hy e There is a shortage in the market e This pushes price up and causes firms to supply more. Since prices increase demand will contract. Price vic R < P ) Ad @ 85 Quontity Excess supply - When supply is greater than demand e There is a surplus in the market e Price will fall back to P as firms lower their prices and try to sell their goods.