IB Economics HL 2.1.3 Demand Curve Question Bank
Practise IB Economics HL 2.1.3 by plotting and labelling a market demand curve with accurate axes.
- Syllabus
- First assessment 2022
- Course
- Economics HL
- Level
- HL
Exam points
- Plot a market demand curve with price on the vertical axis and quantity on the horizontal axis.
- Label the curve and axes accurately so the relationship between price and quantity is unambiguous.
2.1.3—Demand curve question 1
The demand for a product in a perfectly competitive market is given by the function
Q d=64-2 P
while market supply is given by the function
Q s=4 P-8
where P is the price per unit in dollars ($), Qd is the monthly quantity demanded and Qs is the monthly quantity supplied in thousands of units.
Using the functions, plot the following in the grid below:
a fully labelled market demand curve.
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