This is one of a set of Powerpoints (and accompanying Notes/Key Terms sheets) that I have created for my own teaching of various sections of the new (linear) OCR AS Business specification (H031/H431). They follow the order of teaching recommended by the exam board and (generally) the OCR-approved textbook (Mottershead/Grant/Kelt, 2015).
Specification reference:
Demand and supply
• construct and interpret demand and supply diagram(s) to show how changes in the determinants of demand and supply affect equilibrium
• evaluate factors which affect demand and supply in a market
• construct and interpret demand and supply diagram(s) to show excesses and shortages in a market
• evaluate the effect of excesses and shortages.
Price
• explain what is meant by price, income and cross elasticities of demand
• calculate and interpret price, income and cross elasticities of demand
• evaluate the usefulness of price elasticity of demand to a business
Specification reference:
Demand and supply
• construct and interpret demand and supply diagram(s) to show how changes in the determinants of demand and supply affect equilibrium
• evaluate factors which affect demand and supply in a market
• construct and interpret demand and supply diagram(s) to show excesses and shortages in a market
• evaluate the effect of excesses and shortages.
Price
• explain what is meant by price, income and cross elasticities of demand
• calculate and interpret price, income and cross elasticities of demand
• evaluate the usefulness of price elasticity of demand to a business
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