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Cambridge IGCSE Economics practice

Paper 2 structured question: Firms and production

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4

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Firms and production

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Paper 2Structured Questions4 marks

Understanding the dynamics of input demand is essential for businesses.

Description

Demand Dynamics

Factors such as product demand, input costs, availability, and efficiency play a crucial role in determining the demand for production inputs.

  1. a

    Explain how an increase in product demand can affect the demand for production inputs.

    Aim for approximately 4 distinct marking points.

    [4]

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Paper 2 structured question: Firms and production

Paper 2Structured Questions1 marks

Description

Factors Influencing Input Demand

The demand for production inputs is affected by the demand for the final product, the cost of inputs, their availability, and their efficiency.

  1. a

    State one factor that affects the demand for production inputs.

    Aim for approximately 1 distinct marking point.

    [1]