IB Economics HL 2.3 Competitive Market Equilibrium Topic Practice

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Unit 1 Introduction to economics

Unit 2 Microeconomics

2.3 Competitive market equilibrium

2.4 Critique of the maximizing behaviour of consumers and producers

2.5 Elasticities of demand

2.6 Elasticity of supply

2.7 Role of government in microeconomics

2.8 Market failure - externalities and common pool or common access resources

2.9 Market failure - public goods

2.10 Market failure - asymmetric information

2.11 Market failure - market power

2.12 The market's inability to achieve equity

Unit 3 Macroeconomics

Unit 4 The global economy

IB/Economics/HL//Question Bank/Unit 2 Microeconomics/2.3 Competitive market equilibrium

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