Microeconomics

Table of Contents

1. Topic pack - Microeconomics - introduction
2. 1.1 Competitive Markets: Demand and Supply
3. 1.1 Competitive Markets: Demand and Supply - notes
4. 1.1 Competitive markets - questions
5. 1.1 Competitive markets - simulations and activities
   1. PlotIT - Build a demand curve
   2. Step by step - a decrease in demand
   3. Step by step - an increase in demand
   4. Step by step - a decrease in supply
   5. Step by step - an increase in supply
   6. PlotIT - Build a demand and supply diagram
   7. DragIT - Demand and supply
   8. Diagram toolkit
   9. Air travel (1)
   10. Air travel (2)
   11. Air travel (3)
   12. iPods (1)
   13. iPods (2)
   14. iPods (3)
6. 1.2 Elasticities
7. 1.2 Elasticities - notes
8. Section 1.2 Elasticities - questions
9. Section 1.2 Elasticities - simulations and activities
10. 1.3 Government intervention
11. 1.3 Government Intervention - notes
12. 1.3 Government intervention - questions
13. 1.3 Government intervention - simulations and activities
14. 1.4 Market failure
15. 1.4 Market failure - notes
16. Section 1.4 Market failure - questions
17. Section 1.4 Market failure - simulations and activities
18. 1.5 Theory of the firm
19. 1.5 Theory of the firm - notes (HL only)
20. Section 1.5 Theory of the firm - questions
21. Section 1.5 Theory of the firm - simulations and activities
22. Print View

PlotIT - Build a demand curve

Consider the (imaginary) data in the following table. This shows the annual demand for tennis shoes in three sections of the market. Calculate the total (annual) market demand. Jot this down on a piece of paper. You may like to check your answer.

From the table, plot each of the figures for total market demand on the following diagram. To do this, click your mouse on the graph axes for the position of each of the plots. When you have done this, the demand curve will automatically be drawn.

You may like to check your answer to see if it matches the correct curve.

1

Expansion/contraction of demand If the price of tennis shoes falls, there will be an extension in demand. a) True b) False Yes, that's correct. The statement is true. A fall in price leads to an extension in demand.No, that's not right. The statement is true. A fall in price leads to an extension in demand.Your answer has been saved.

2

Demand for tennis shoes A higher rate of economic growth will lead to an extension in demand. a) True b) False Yes, that's correct. The statement is false. An increase in economic growth will lead to a shift in the demand curve. An extension in demand is a move along the demand curve.No, that's not right. The statement is false. An increase in economic growth will lead to a shift in the demand curve. An extension in demand is a move along the demand curve.Your answer has been saved.