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Explore the relationship between individual demand and market demand, focusing on how individual demands combine to form market demand.

Read the explanation, check the common trap, then practise with flashcards and questions.

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  • Read the explanation.
  • Check key terms.
  • Practise with linked questions.
Cambridge IGCSE EconomicsThe allocation of resources

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Quick explanation

Explore the relationship between individual demand and market demand, focusing on how individual demands combine to form market demand

  • This point belongs to Demand, especially Demand outcomes.
  • You need to be able to explore the relationship between individual demand and market demand, focusing on how individual demands combine to form market demand.
  • The key ideas to know are Identify and Discuss.
  • Use the linked flashcards and practice questions to check recall, then practise applying the idea in an exam-style answer.

Key concepts

IdentifyDiscuss

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This objective helps connect Demand outcomes to exam-style questions, flashcards, and revision notes for Demand.

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Paper 2 structured question: Demand

Paper 2Structured Questions1 marks

Description

Demand in Economics

Consider a market for smartphones where individual demand varies based on consumer preferences and income levels. As prices decrease, more consumers are willing to purchase smartphones, leading to an increase in market demand.

  1. a

    State the relationship between individual demand and market demand.

    Aim for approximately 1 distinct marking point.

    [1]
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Cambridge IGCSEEconomics resources