Practice 2.1 Demand with authentic IB Economics exam questions for both SL and HL students. This question bank mirrors Paper 1, 2, 3 structure, covering key topics like microeconomics, macroeconomics, and international trade. Get instant solutions, detailed explanations, and build exam confidence with questions in the style of IB examiners.
Explain how tastes and preferences influence the demand for a product.
Explain how a fall in the demand for labour can affect employment and the equilibrium wage.
Explain how a change in income can affect the demand for normal and inferior goods.
Explain how the law of diminishing marginal utility supports the downward-sloping shape of the demand curve.
Explain the difference between movements and shifts along the demand curve.
Explain how the number of consumers in a market affects market demand.
Explain why the demand curve is downward sloping.
Using real-world examples, evaluate choice architecture as a method of reducing the consumption of demerit goods.
Explain the relationship between an individual consumer’s demand and market demand.
Using real-world examples, evaluate the view that the assumptions behind rational consumer choice have very few limitations.
Explain how changes in consumer income can affect the demand for normal and inferior goods.
Using real-world examples, evaluate the view that the assumptions behind rational consumer choice are too unrealistic.
Explain how consumer income influences the demand of a product.
Using real-world examples, evaluate the view that governments should consider PED when placing indirect taxes on demerit goods.