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Ch 2 Markets, Demand and Supply: complete notes
Neat, exam-ready notebook-style notes for Ch 2 Markets, Demand and Supply, following the Cambridge IGCSE 0455 syllabus. This chapter is part of the complete IGCSE Economics 0455 Complete Notes: All 22 Chapters with Diagrams and Mark Schemes (Cambridge 2027–2029).
Free preview: Ch 2 Markets, Demand and Supply notes
A quick look at the chapter from our IGCSE Economics notes. The full chapter notes have the detailed explanations, diagrams and practice questions with answers.
Topics in this chapter
- Examples of markets
- Roles of buyers and sellers
- 2.2.1 Individual demand and market demand
- 2.2.2 Movements along a demand curve
- 2.2.3 Shifts of a demand curve
- 2.3.1 Individual supply and market supply
- 2.3.2 Movements along a supply curve
- 2.3.3 Shifts of a supply curve
“I can” checklist: what you must be able to do
- define a market and give examples of different markets
- explain the roles of buyers and sellers
- define demand and explain why the demand curve slopes down
- add individual demands to find market demand, and draw the demand curve
- explain and draw extensions and contractions in demand
- explain and draw increases and decreases in demand, with causes
- define supply and explain why the supply curve slopes up
- add individual supplies to find market supply, and draw the supply curve
- explain and draw extensions and contractions in supply
- explain and draw increases and decreases in supply, with causes
What is inside the full chapter notes
- Concept notes, demand and supply diagrams, 8 worked examples (calculations and model answers)
- Exam skills for Paper 2; common mistakes from the examiner report
- 20 Paper 1 style multiple-choice questions, explained
- One Section A data-response question and two Section B questions (Paper 2 style), all with full mark schemes
- Quick-reference table, "I can" checklist
What you get in the pack
- All 22 chapters of the Cambridge IGCSE Economics 0455 syllabus (exams 2027–2029): the basic economic problem, demand and supply, elasticity, market failure, money and banking, workers, firms and markets, government policy, growth, unemployment, inflation, development, international trade, exchange rates and the balance of payments
- Every syllabus statement covered in order, with clear notes and economics diagrams drawn for these notes
- Worked examples (calculations and model answers), exam skills and key definitions in every chapter
- Common mistakes taken from Cambridge examiner reports, so you know where marks are lost
- 20 Paper 1 style MCQs per chapter with answers and explanations
- Original exam-style questions in the style of Paper 1 (multiple choice) and Paper 2 (structured questions), with full mark schemes (no past-paper reprints)
- Quick-reference sheet and an "I can" checklist at the end of every chapter
- Colour PDF and a black and white copy of every chapter for printing
- Independent notes; not endorsed by or affiliated with Cambridge University Press & Assessment
All chapters in this pack
- Ch 1 The Basic Economic Problem
- Ch 2 Markets, Demand and Supply
- Ch 3 Price Determination and Price Changes
- Ch 4 Price Elasticity of Demand
- Ch 5 Price Elasticity of Supply
- Ch 6 The Market Economic System and Market Failure
- Ch 7 The Mixed Economic System
- Ch 8 Money, Banking and Households
- Ch 9 Workers
- Ch 10 Firms and Production
- Ch 11 Firms' Costs, Revenue and Objectives
- Ch 12 Types of Markets
- Ch 13 Government Intervention and Fiscal Policy
- Ch 14 Monetary Policy and Supply-side Policy
- Ch 15 Economic Growth
- Ch 16 Employment and Unemployment
- Ch 17 Inflation and Deflation
- Ch 18 Living Standards and Poverty
- Ch 19 Population and Economic Development
- Ch 20 Specialisation, Free Trade and Globalisation
- Ch 21 Foreign Exchange Rates
- Ch 22 The Current Account of the Balance of Payments