IB Economics: stress-free teaching, engaged and successful students

IB Diploma Economics:
Competitive markets: Demand and Supply

This section of the IB Economics course we outline what a market is and then examines the forces of supply and demand. These twin forces lie at the heart of the market-based economy. At the end of this section students will be able model both supply and demand functions and explain the factors that affect each and how consumers and businesses respond to price changes, before examining how supply and demand interact with each other.