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Cambridge IGCSE Economics practice

Paper 2 structured question: Demand

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Demand

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Paper 2Structured Questions3 marks

Analyzing the impact of price changes on demand.

Description

Price and Demand

In a market where the price of a product decreases, individual consumers respond by increasing their quantity demanded. This behavior collectively influences the market demand curve.

  1. a

    Explain how a decrease in price affects market demand.

    Aim for approximately 3 distinct marking points.

    [3]

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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]