CAIE IGCSE Economics 2.3.1 Individual and Market Supply Questions
Practise Cambridge IGCSE Economics by defining supply, interpreting supply curves and distinguishing individual from market supply.
- Syllabus
- 2027–2029
- Course
- Economics 0455
Exam points
- Define supply and interpret a supply curve.
- Distinguish individual supply from market supply.
- Identify factors held constant when constructing a firm’s supply curve.
CAIE IGCSE Economics 2.3.1 Individual and Market Supply Questions question 1
[Maximum number: 2]
Davos is a ski resort in Switzerland famous for hosting a world economic conference for leaders from both private and public sectors. Topics discussed usually relate to global economic development. Hospitality firms in Davos depend on seasonal migrant labour, especially when they want to increase the supply of goods and services quickly.
Define supply.
Define supply
The willingness (1) and ability to sell/provide a good/service (1).
2
Accept an incomplete answer for one mark e.g. amount of a good/service produced by a firm / available in the market (1).
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