Unit 2: Microeconomics
Topic 2.2: Supply Questions
Practice 20 exam-style questions for IB Economics Topic 2.2. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
21 mark
An increase in the cost of raw materials will:
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If the market price of a good rises from $10 to $15 and firms respond by increasing output, this represents:
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The supply curve slopes upward from left to right because:
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A drought destroys a large proportion of the wheat harvest. In the wheat market, this would cause:
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An improvement in production technology will:
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A movement along the supply curve is caused by:
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A leftward shift of the supply curve indicates:
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A government subsidy given to producers will:
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Using a diagram, explain how an increase in the minimum wage would affect the supply curve for a labour-intensive product.
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2026
Explain how a fall in production costs affects supply.
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2026
Distinguish between a movement along a supply curve and a shift of the supply curve.
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2026
Explain how an indirect tax on producers affects supply.
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The law of diminishing marginal returns helps explain the upward slope of the supply curve because:
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2026
Explain how an improvement in technology is likely to affect supply in a competitive market.
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2026
Explain two factors that could shift the supply curve of a good to the left.
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