IB Economics: Markscheme

This markscheme provides students with guidance for what can be included in their answers and is not a model answer.Answer the following questionsa. Define the term demand. [Text A, paragraph 2] [2]Demand is the willingness and ability of buyers to pay a sum of money for a good or service at a given point in time and at a given price level.b. Using the price and quantity data in table 1 calculate the:

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