IB skill practice

Analyse demand, supply, and market equilibrium

Economics SL skill with original exam-style diagram and data-response seeds.

Paper 1, Paper 2 5 marks Difficulty 3

Explain excess demand

In a New Zealand tourism market extract, the market price is below equilibrium and queues form. Explain the market pressure created by this price. Use the labelled diagram, data, or extract evidence before writing the answer. Enter the answer and choose the interpretation that best matches the economic evidence.

Worked practice: economic evidence and answer

Identify the economic evidence first, then state the result and interpretation.