DP IB Economics: HL Flashcards

Demand

Supply

Competitive Market Equilibrium

Critique of the Maximizing Behaviour of Consumers & Producers

Elasticities of Demand

Price Elasticity of Supply (PES)

The Role of Government in Microeconomics

Market Failure: Externalities & Common Pool (Access) Resources

Market Failure: Public Goods

Market Failure: Asymmetric Information

Market Failure: Market Power

The Market’s Inability to Achieve Equity

Measuring Economic Activity

3.2 Variations in Economic Activity (AD & AS)

Macroeconomic Objectives

3.4 Inequality & Poverty

Demand Management: Monetary Policy

Demand Management: Fiscal Policy

3.7 Supply-Side Policies

Benefits of International Trade

Types of Trade Protection

Arguments for & Against Trade Protection

Economic Integration

Exchange Rates

Balance of Payments

Sustainable Development

Measuring Economic Development

Barriers to Economic Growth & Development

Economic Growth & Development Strategies