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IB Economics HL 2.3.4 Consumer and Producer Surplus Questions

Practise defining and calculating consumer, producer and community surplus from demand-and-supply diagrams, including changes caused by demand shifts or price controls.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Define consumer surplus and producer surplus and locate them relative to equilibrium price, demand and supply.
  • Define community surplus as the sum of consumer surplus and producer surplus.
  • Calculate and explain changes in consumer, producer or community surplus from market diagrams and interventions.

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