Quizzes and an IGCSE Past Paper Question to Assess Your Understanding of Demand, Supply and Market Equilibrium
Image: Some rights reserved by Valerie Everett
a) Exploring Supply and Demand by Kim Sosin – useful in that you can get feedback on the impacts on the Supply and Demand graph, shown on the right hand side of your browser.
b) True/False Quiz hosted on a http://www.oup.com site.
c) SELF-GRADING PRACTICE QUIZ #3 via http://www.sscnet.ucla.edu
The following four quizzes by Pearson via http://wps.aw.com are good means of testing your understanding of demand, supply,and the market equilibrium. Usefully, at the end of each quiz you can email your results to yourself and your teacher.
d) Quiz 1
e) Quiz 2
f) Quiz 3
g) Quiz 4
Source: CIE Economics Paper 4 Exam, May/June Session 2002
| Print article | This entry was posted by James Penstone on November 11, 2011 at 2:46 am, and is filed under Economics, IGCSE Economics. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |
No comments yet.
No trackbacks yet.
Should Eggs Be Sold At Their Pre-Flood Prices During the Flood Crisis?
about 12 years ago - No comments
In 2011, Thailand suffered one of its most destructive floods in history. This link will hopefully update with some accuracy to give this post some context in the future (at the time of writing, the floods are still very much underway): 2011 Thailand Floods on Wikipedia Due to a combination of reduced supply (as many…
Applied Macroeconomics – Evaluating Demand Side Policies
about 12 years ago - No comments
Aims: · To recap the Paper 1 Mark Scheme · To revise learning on the macroeconomic equilibrium, Keynesian and neoclassical perspectives and demand side policies. · To apply the above learning to examples, both theoretical and real-life. · To develop critical analysis and evaluation skills. Step 1 – Recap Exam Technique · Remember the Paper…
Supply Revisited
about 12 years ago - No comments
This post is to add further resources on the concept of supply, for those who wish to follow up on this absolutely essential concept in Economics. First, however, I recommend you use the resources on this post to learn about supply: http://opengecko.com/economics/supply/ 1) Videos Supply by vaacon1 Creating a supply curve from a supply schedule…
Demand Revisited
about 12 years ago - No comments
This post is to add further resources on the concept of demand, for those who wish to follow up on this absolutely essential concept in Economics. First, however, I recommend you use the resources on this post to learn about demand: 1) Videos What is a demand curve? by Note – I think part of…
How Long Should You Spend On the IGCSE Economics Paper 2 Questions?
about 13 years ago - 2 comments
A very important key to exam success is to get the timings right. Timings can go wrong in two ways: You spend far too little on all questions and have time to spare at the end. If you spend a lot of time doing nothing in your exam, this has a serious ‘opportunity cost’ ……
Price Discrimination
about 13 years ago - No comments
The first video in this post goes to a student. Komilla (CuteChadz)has produced a very professional looking summary and it is well worth a look: pajholden does price discrimination richardmckenzie gives us two videos: Click here to see a Reffonomics interactive presentation on price discrimination. For a bit of fun, view the scene from the…
Oligopoly
about 13 years ago - No comments
IB Syllabus requirements: • Assumptions of the model • Collusive and non-collusive oligopoly • Cartels • Kinked demand curve as one model to describe interdependent behaviour • Importance of non-price competition • Theory of contestable markets BrynJonesOnline introduces the theory before moving onto Kinked Demand Theory: Cartels This helpful video is by richardmckenzie Non Collusion…
Monopolistic Competition
about 13 years ago - No comments
Here is the IB syllabus requirement for this sub-topic: Monopolistic competition • Assumptions of the model • Short-run and long-run equilibrium • Product differentiation • Efficiency in monopolistic competition From www.reffonomics.com a useful introductory slide on calculating price and quantity under monopolistic competition scenario: Which then leads to finding profit (from the same site, www.reffonomics.com)…
Monopoly
about 13 years ago - No comments
The IB syllabus requirements for this sub-topic are to understand: Assumptions of the model Sources of monopoly power/barriers to entry Natural monopoly Demand curve facing the monopolist Profit-maximizing level of output Advantages and disadvantages of monopoly in comparison with perfect competition Efficiency in monopoly Here are a selection of useful resources to further your understanding…
Perfect Competition
about 13 years ago - No comments
The IB Economics syllabus requires you to understand the following: • Assumptions of the model • Demand curve facing the industry and the firm in perfect competition • Profit-maximizing level of output and price in the short-run and long-run • The possibility of abnormal profits/losses in the short-run and normal profits in the long-run •…
