IB Economics SL 2.1.1 Law of demand
IB Economics SL 2.1.1 Law of demand
Students practise defining demand precisely and applying the law of demand with ceteris paribus, including calculating quantity demanded from linear functions and justifying the…
How this is tested
- define demand as the quantity consumers are willing and able to buy at each price
- calculate price or quantity from a linear demand equation by substitution and solving