CourseCourse QuestionQuestion

Unit 1 Introduction to economics

Unit 2 Microeconomics

2.3 Competitive market equilibrium

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

2.5.5—Determinants and importance of PED

2.5.7—Income elasticity 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

Unit 3 Macroeconomics

Unit 4 The global economy

IB/Economics/SL//Concept/Unit 2 Microeconomics/2.5 Elasticities of demand/2.5.7—Income elasticity of demand

Unit 2 Microeconomics SL

Syllabus: First assessment 2022
Section: —
Level: SL

Exam analysis

Most tested topics

Demand
Supply
Competitive market equilibrium
Elasticities of demand
Elasticity of supply
Role of government in microeconomics
Market failure - externalities and common pool or common access resources
Market failure - public goods