Market prices depend on levels of supply and demand. These levels rise and fall according to a number of factors, and can have a big impact on the success of a business.
Farm themed group excel activity which demonstrates the interaction between supply of a product and price. Easily modified for KS4 or 6th form. Seems to work well!
Uses the product of Cadbury Dairy Milk (close to many people's hearts!) to get students to draw supply and demand curves. Also requires them to shift lines and considers the idea of a market not being in equilibrium. Also includes 2 short homework questions on a similar theme.
Inflation is one of the most important issues in economics.
It influences the interest rate we get on our savings and the rate we pay on our mortgages.
Inflation also affects the level of state pensions and benefits, as well as the price of some train tickets.
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