Paper 3 question on market equilibrium (HL only)

IB Economics: Paper 3 question on market equilibrium (HL only)

This page contains paper three type questions, written for the new syllabus. These are good practise for students taking the subject at higher level, but may also be good practise for standard level students. Lesson time: 50 minutes, including reading time. The maximum mark for this question is 30.The diagram to the right illustrates the demand and supply for bread in a local market. (a) Define the following terms:

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