Practice IB Economics Topic 2.1 Demand with authentic exam-style questions for both SL and HL students. This question bank focuses on the exact syllabus content for 2.1 Demand and mirrors Paper 1, 2, 3 style where relevant.
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With the aid of a demand curve diagram, explain the law of demand.
Using real-world examples, evaluate the usefulness of the law of demand for explaining consumer behaviour.
Explain the difference between a movement along the demand curve and a shift of the demand curve.
Using real-world examples, discuss the consequences for producers when there is a significant increase in the demand for their product.
Explain the relationship between an individual consumer’s demand and market demand.
Using real-world examples, evaluate the view that the assumptions behind rational consumer choice have very few limitations.
Explain, using a diagram, how a demand curve is derived from the law of demand.
Using real-world examples, evaluate the importance of demand-side factors in determining the market price of a good.
Explain, with the aid of a diagram, how a change in the price of a complementary good affects the demand for a related good.
Using real-world examples, discuss the impact of technological change on the demand for goods and services.