Economics GCSE
Market forces
What Market forces means in Economics GCSE, as defined for AQA.
Definitions of Market forces
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Reference: AQA
Markets bring buyers and sellers together to exchange goods and services, allocating resources through the interaction of demand and supply.
The pressures of shortage and surplus that push prices up when there is excess demand and down when there is excess supply.
The demand and supply interaction that determines the value of a currency in a floating exchange rate system.
Price is the primary determinant of supply, and a change in price causes a movement along the supply curve.
The interaction of supply and demand that drives prices towards equilibrium when there is a disequilibrium.
Topics that use Market forces
- Equilibrium price (AQA GCSE)
- Exchange rates (AQA GCSE)
- Markets and allocation of resources (AQA GCSE)
- Supply for goods and services (AQA GCSE)
Related terms
- Price determination
- Change in supply
- Circular flow of income
- Costs of production
- Determinants of supply and demand
- Disequilibrium
- Efficiency and resource allocation
- Equilibrium price
Using Market forces in the exam
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