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Cambridge IGCSE Economics practice

Paper 2 structured question: Supply

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Supply

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Paper 2Structured Questions1 marks

The market for oranges has seen a significant increase in production due to favorable weather conditions.

Description

Market Supply of Oranges

As individual orange producers increase their output, the overall market supply of oranges rises. This change is reflected in the market supply curve, which shifts to the right.

  1. a

    State the effect of increased individual supply on market supply.

    Aim for approximately 1 distinct marking point.

    [1]

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Paper 2 structured question: Supply

Paper 2Structured Questions3 marks

Description

Impact of Technology on Market Supply

With the introduction of this new technology, individual smartphone manufacturers can produce more at a lower cost, leading to an increase in their supply.

  1. a

    Explain how this new technology affects individual supply and market supply.

    Aim for approximately 3 distinct marking points.

    [3]