IBEconomicsDPSL2. Microeconomics

2. Microeconomics (DP IB Economics)

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2.1 Demand

  1. Demand, Price & Quantity
  2. Non-Price Determinants of Demand

2.2 Supply

  1. Supply, Price & Quantity
  2. Non-Price Determinants of Supply

2.3 Competitive Market Equilibrium

  1. Market Equilibrium & Disequilibrium
  2. Functions of the Price Mechanism
  3. Consumer & Producer Surplus

2.4 Price Elasticity of Demand (PED)

  1. Definition, Calculation & Determinants of PED
  2. The Significance of PED

2.5 Income Elasticity of Demand (YED)

  1. 2.5.1 Definition, Calculation & Illustration of YED

2.6 Price Elasticity of Supply (PES)

  1. 2.6.1 Definition, Calculation & Determinants of PES

2.7 Role of Government In Microeconomics

  1. 2.7.1 Reasons For Government Intervention In Markets
  2. 2.7.2 Government Intervention: Indirect Taxes & Subsidies
  3. 2.7.3 Government Intervention: Price Controls

2.8 Market Failure: Externalities & Common Pool (Access) Resources

  1. 2.8.1 Market Failure
  2. 2.8.2 Negative Externalities
  3. 2.8.3 Positive Externalities
  4. 2.8.4 Common Pool (Access) Resources
  5. 2.8.5 Government Intervention to Address the Market Failure
  6. 2.8.6 Other Interventions to Address the Market Failure

2.9 Market Failure: Public Goods

  1. 2.9.1 Public Goods

2.1 Demand

  1. Exam Questions

2.2 Supply

  1. Exam Questions

2.3 Competitive Market Equilibrium

  1. Exam Questions

2.4 Price Elasticity of Demand (PED)

  1. Exam Questions

2.5 Income Elasticity of Demand (YED)

  1. Exam Questions

2.6 Price Elasticity of Supply (PES)

  1. Exam Questions

2.7 Role of Government In Microeconomics

  1. Exam Questions

2.8 Market Failure: Externalities & Common Pool (Access) Resources

  1. Exam Questions

2.9 Market Failure: Public Goods

  1. Exam Questions
DP IB Economics Past Papers