How the Market Works

This resource is made for Economics IGCSE. It explains how the market works and what roles demand, effective and supply plays in the market economy. It explains the role quantity demanded and quantity supplied plays in the market. The resource explains the role of price and income play as determinants to how the market works. It also shows how market and price equilibrium,normal goods , inferior goods and complement and substitute goods affect demand and difference in quantity supplied and change in demand and uses supply and demand curves as illustrations.