IB Economics HL 2.5.4 Hl Ped Along a Straight Line Demand Curve 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

2.5.1—Concept of elasticity

2.5.2—Price elasticity of demand

2.5.3—PED diagrams and revenue

2.5.4 (HL)—PED along a straight-line demand curve

2.5.5—Determinants and importance of PED

2.5.6 (HL)—PED for primary commodities

2.5.7—Income elasticity of demand

2.5.8 (HL)—Importance of YED

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/2.5 Elasticities of demand/2.5.4 (HL)—PED along a straight-line demand curve

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