Unit 2: The price system and the microeconomy
How markets set prices and quantities. Demand and supply, the three elasticities, market equilibrium, and the consumer and producer surpluses that measure the gains from trade.
Practise this unit
📝 MCQ practice
589 past-paper MCQs
Instant feedback and explanations for this unit's questions.
Practise Unit 2 MCQs →✍️ Essay questions
Past-paper essays
Organised by syllabus point, with mark schemes and self-assessment.
Browse essays →📈 Data response
Past-paper case studies
Full case material, figures and per-part mark schemes.
Practise data response →🧪 Mock exam papers
Timed full papers
Assemble a full timed mock from the real bank — printable and shareable.
Open mock exams →Chapters in this unit (7–11)
- Ch 7 · Demand and Supply Curves
- Ch 8 · Price Elasticity, Income Elasticity, and Cross Elasticity of Demand
- Ch 9 · Price Elasticity of Supply
- Ch 10 · The Interaction of Demand and Supply
- Ch 11 · Consumer and Producer Surplus
Key terms
Frequently asked questions
What does Unit 2 of CIE 9708 Economics cover?
How markets set prices and quantities. Demand and supply, the three elasticities, market equilibrium, and the consumer and producer surpluses that measure the gains from trade.
How many practice questions are there for Unit 2?
Unit 2 spans chapters 7–11 with 589 past-paper multiple-choice questions, plus essay and data-response questions with official mark schemes.
Is this free?
Yes. All revision notes and past-paper practice are free, bilingual (English / 简体中文) and work offline.
This is a free, unofficial Cambridge 9708 Economics revision resource and is not affiliated with Cambridge Assessment International Education.