1. AQA Econ 1: Markets and market failure
1.2.6 Applications of demand and supply analysis to particular markets
You should now be confident with:
Demand curves
The shape and slope
Movements along and shifts
Supply curves
Equilibrium price
Elasticities
PED, YED, XED, PES
In this module you will need to be able to demonstrate your own understanding of all of these concepts.
AQA Econ 1: Markets and market failure

2. 1.2.6 Applications of Demand and Supply Analysis to particular markets
Candidates should be able to apply their knowledge of the basic model of demand and supply to markets, including commodity markets such as oil and copper markets, agriculture, health care, housing, sport and leisure
Write a script to go with this video.

3. Team task In teams select one market from the list
As a class you must ensure all markets are covered
Each team is to prepare a presentation and hand out applying your knowledge of supply and demand to your chosen market
Carry out some research into your market (there are some examples provided to get you started)
Use supply and demand diagrams to explain a range of scenarios e.g.
in the commodities market what happened to price as a result of US Government action?
How is the World Cup affecting hotel prices in Brazil?
Include factors affecting demand and supply in your market
Include factors affecting elasticities in your market
Commodity
Agriculture
Health care
Housing
Sport & leisure

4. Commodity markets
The commodity market refers to all raw or primary commodities
Soft commodities are grown and harvested e.g. coffee and wheat
Hard commodities are extracted e.g. oil and copper
The FT and BBC report on the commodity markets
Primary sector industries extract raw materials or natural resources.
The Economist – commodity price index.
Commodities: What next after the 'super-cycle'?
Global markets fall as end to US stimulus beckons.
Syria: Would military strikes push oil prices to record highs?
'Worrying' decline in oil and gas production.

5. Agriculture
Agriculture is the farming of  animals and crops for food, energy, drugs and other products used to sustain and enhance human life
The Department of Agriculture and Rural Development provides comprehensive reports on trends in this market
The European Commission also has a Department of Agriculture and Rural Development
Consider the impact of climate change on the market.
Bad Java: Poor Coffee Crop Adds to Indonesia's Woes.
Britain's wheat crop 'down by third after extreme weather‘.
Weetabix products hit.
Scottish lobster catches hit by long winter, say fishermen.
Farming technology to get £160m government investment.

6. Health care
Secondary sector industries turn raw materials into partially finished or finished goods e.g. the pharmaceutical industry.
Tertiary sector industries provide a service e.g. a private dentist or the NHS.
The health care market deals with the diagnosis, treatment and prevention of disease, illness, injury and any other human deficiencies
Operates in primary, secondary and tertiary sectors of society
Operates in both the public and private sector
The FT reports on the health care sector
Does the NHS need its own price comparison website?
NHS 'misses A&E waiting time target‘.
The Economist – Lucrative lifesavers.
Private patients pay too much.
Mobility aid sales face Office of Fair Trading inquiry.

7. Housing The housing market focuses on residential real estate
Read what Wikipedia has to say about the demand and supply of housing
The Guardian regularly reports on the housing market
Analysis of the housing market from
UK housing market has turned a corner, says government.
UK house prices rising 'at highest rate since 2010.
Are you a housing market winner or a loser?
UK house prices rise again in August.

8. Sports and leisure
The sports and leisure market covers a wide range of activities including sport and recreation, health and fitness, outdoor pursuits, caravanning and gaming
Sports and leisure operates in both the secondary and tertiary sector
PWC report on global trends in sports and leisure markets
The BBC regularly reports on the business of sport
How significant is the sports and leisure market to the UK economy?
The football transfer window.
Brazil World Cup: Tourism board worried by hotel prices.
How elastic are football tickets?
Can free leisure services get people fit?
The Economist - parks