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IB
2.2 Supply

IB Economics 2.2 Supply Questionbank

IB Economics Topic 2.2 Supply Questionbank (SL/HL) | RevisionDojo

2.1 Demand

2.2 Supply

2.3 Competitive Market Equilibrium

2.4 Critique of the Maximizing Behaviour of Consumers and Producers (HL Only)

2.5 Elasticities of Demand

2.6 Elasticity of Supply

2.7 Role of Government in Microeconomics

2.8 Market Failure - Externalities, Common Pool Resources, Public Goods, Asymmetric Information

2.9 Market Failure - Public Goods

2.10 Market Failure - Asymmetric Information (HL Only)

2.11 Market Failure - Market Power (HL Only)

2.12 The Market’s Inability to Achieve Equity (HL Only)

Paper

Level

Question

SLPaper 1

(a)

Explain how a subsidy influences the supply in a market

[10]

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HLPaper 1

(a)

Explain the law of supply, including the underlying assumptions.

[10]

(b)

Using real-world examples, discuss the extent to which the law of supply is useful in explaining producer behaviour.

[15]

SLPaper 1

(a)

Explain the differences between movements along the supply curve and shifts of the supply curve.

[10]

(b)

Using real-world examples, evaluate the view that subsidy is the most effective policy to encourage the consumption of merit goods.

[15]

SL & HLPaper 1

(a)

Explain the difference between a movement along the supply curve and a shift of the supply curve.

[10]

(b)

Using real-world examples, discuss the consequences for consumers when there is a significant decrease in the supply of a good.

[15]

SL & HLPaper 1

(a)

Explain how changes in technology affect the supply of a good.

[10]

(b)

Using real-world examples, discuss the extent to which technological change benefits producers.

[15]

IB Economics Topic 2.2 Supply Questionbank

Practice IB Economics Topic 2.2 Supply with authentic exam-style questions for both SL and HL students. This question bank focuses on the exact syllabus content for 2.2 Supply and mirrors Paper 1, 2, 3 style where relevant.

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1

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