IB Economics SL 2.3.1 Market Equilibrium Topic Practice

ConceptConcept DocsDocuments

ConceptConcept DocsDocuments

Unit 1 Introduction to economics

Unit 2 Microeconomics

2.3 Competitive market equilibrium

2.3.1—Market equilibrium

2.3.2—Changes in equilibrium

2.3.3—Price mechanism

2.3.4—Consumer and producer surplus

2.3.5—Allocative efficiency

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

Unit 3 Macroeconomics

Unit 4 The global economy

IB/Economics/SL//Question Bank/Unit 2 Microeconomics/2.3 Competitive market equilibrium/2.3.1—Market equilibrium

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