IGCSE Economics: supply and demand curves is one of the most searched topics because diagrams are central to paper marks. You need to draw demand and supply correctly, shift them for the right reasons, and explain the effect on equilibrium price and quantity.

Drawing the Curves

• Demand: Downward sloping (price ↑ → quantity demanded ↓); label axes (Price, Quantity) and curves (D, S).
• Supply: Upward sloping (price ↑ → quantity supplied ↑).
• Equilibrium: Where D and S cross; show equilibrium price and quantity.

What Shifts Demand vs Supply

• Demand shifts: Income, tastes, prices of related goods (substitutes/complements), expectations, population (and other factors in the syllabus).
• Supply shifts: Cost of production, technology, taxes/subsidies, number of firms, natural factors (and other syllabus factors).

For each factor, state which curve shifts, which direction, and the effect on price and quantity. Use phrases like “demand increases so the demand curve shifts to the right; price rises and quantity rises.”

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Exam-Style Questions and Common Mistakes

You may be asked to draw a diagram, show a shift, or explain the effect of a change (e.g. a tax, a subsidy, a rise in income). Always label axes (Price, Quantity) and curves (D, S), and show the new equilibrium after a shift. Common mistakes: Shifting the wrong curve; shifting in the wrong direction; not stating the effect on both price and quantity; vague wording. Practise with past paper diagram questions and mark schemes.

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