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IB Economics HL 2.3.2 Changes in Equilibrium Questions

Practise explaining how demand or supply shifts change equilibrium price and quantity, and how excess demand or supply drives adjustment toward a new market equilibrium.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Explain how demand shifts change equilibrium price, quantity and, where relevant, total revenue.
  • Explain how supply shifts change equilibrium price and quantity.
  • Define excess demand or supply and explain how disequilibrium leads to a new market equilibrium.

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