CAIE A-Level Economics 2.1.2 Individual and Market Demand and Supply

Practise interpreting individual demand and firm supply curves and aggregating their quantities horizontally at each price to construct market demand or market supply.

Exam points

read price on the vertical axis and quantity per period on the horizontal axis
sum individual quantities demanded or supplied at the same price to form the market curve
hold technology, factor prices and firm numbers constant while own price varies along supply

[Maximum number: 1]

The diagram shows a market supply curve (S).

Figure for Question 2.1.2—Individual and market demand/supply question 1 — CAIE A-Level Economics AS

What is measured on the X -axis and the Y -axis?

X-axis

Y-axis

quantity

income

quantity

price

income

quantity

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2.1.2—Individual and market demand/supply question 1