What is the Price Mechanism?

Welcome to ECONOMICS 101! Your go-to ECONOMICS guide, brought to you by the IEA and kindly supported by The Monnery Trust. Ever wonder how the PRICE MECHANISM works? Trying to get your head around the SIGNALLING and RATIONING FUNCTION in the ALLOCATION OF SCARCE RESOURCES? What impact do PRICES have on our lives? Is your teacher asking you to explain the impact of PRICE CONTROLS? Need help REVISING?

ECONOMICS 101 is your go to guide for exam revision, learning something new or just scrubbing up on past topics. Dr Steve Davies, Head of Education at the Institute of Economic Affairs, will take you through the fundamental concepts of economics in 18 EASY TO FOLLOW, SHORT videos. So, if all of your classes are now online - CHECK US OUT! This is video 8 of 18 in our ECONOMICS 101 series.

OCR | EDEXCEL | AQA
AS LEVEL | A LEVEL | IB

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