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Summary IGCSE Edexcel economics - 5. Market equilibrium

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This document is a summary of market equilibrium for IGCSE Edexcel Economics. It covers key concepts such as equilibrium price, total revenue, shifts in demand and supply, excess supply and demand, and how markets restore equilibrium. Perfect for students and teachers looking for a clear, structured, and concise explanation of this essential economic topic.

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Institution
GCSE
Module
Economics








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Rob Jones Pearson Edexcel International GCSE (9-1) Economics Student Book Ebook
  • 2020
  • 9781292326535
  • Unknown

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Institution
GCSE
Study
GCSE
Module
Economics
School year
200
All documents for this subject (120)

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Summarized whole book?
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Which chapters are summarized?
Microeconomics - 1.1.5 market equilibrium
Uploaded on
March 8, 2025
Number of pages
3
Written in
2024/2025
Type
Summary

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5. Market equilibrium

Equilibrium price : price at which supply and demand are equal in a market
(market clearing price).




Total revenue : the amount of money generated from the sale of goods.

TR = price ∗ quantity




Shifts in demand:




5. Market equilibrium 1

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