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NotesEconomicsTopic 2.1
Unit 2 · Microeconomics · Topic 2.1

IB Economics — Demand

Demand curve, determinants, shifts vs movements, and real-world applications.

Exam technique guidePractice questions

Key concepts in Demand

Key Idea: Topic 2.1 explains **what demand is**, why the demand curve slopes downward, what **shifts** it, and the crucial exam skill of distinguishing **movements vs shifts**.

✅ Core definitions

If a question says 'want' without 'able to buy', it is NOT effective demand.

📉 Why demand slopes downward

🔄 Non-price determinants (shift the curve)

⚡ Movements vs shifts — the KEY exam skill

Every time you draw a demand diagram, label: axes (P, Q), curve (D₁, D₂), direction of shift, and new equilibrium.

What you'll learn in Topic 2.1

  • 2.1.1 The law of demand
  • 2.1.2 Determinants of demand
  • 2.1.3 Movements vs shifts of demand
Suggested study order: Read the notes for each sub-topic below → test yourself with flashcards → attempt practice questions → review exam technique.

Study resources — 2.1 Demand

2.1.1

The law of demand

Notes
2.1.2

Determinants of demand

Notes
2.1.3

Movements vs shifts of demand

Notes

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Topic 2.1 Demand forms a core part of Unit 2: Microeconomics in IB Economics. Mastering these concepts will strengthen your understanding of connected topics across the syllabus and prepare you for exam questions that require analysis, evaluation, and real-world application.

Frequently asked questions

What does Topic 2.1 Demand cover in IB Business Management?
Topic 2.1 covers demand as part of the IB BM syllabus. Students learn key business concepts, tools, and frameworks that are assessed in Paper 1 (case study) and Paper 2 (structured questions).
How should I revise Demand for IB Business Management exams?
Start with the micro-topic notes to build understanding, then use flashcards for key terms and formulas. Practise applying concepts to case study scenarios and review how marks are allocated in IB mark schemes.
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