Microeconomics
Microeconomics
The purpose of this section is to identify and explain the importance of markets and the role played by demand and supply. The roles played by consumers, producers and the government in different market structures are highlighted. The failures of a market system are identified and possible solutions are examined.
The concepts learned here have links with other areas of the economics syllabus; for example, elasticity has many applications in different areas of international trade and development.
Topics covered in IB Microeconomics
1.1 Competitive markets: demand and supply (some topics HL only)
1.2 Elasticity
1.3 Government intervention (some topics HL extension, plus one topic HL only)
1.4 Market failure (some topics HL only)
1.5 Theory of the firm and market structures (HL only)
Exciting News!
IMPORTANT MESSAGE
Quizzes and worksheets on this website have been developed in Flash format. Flash is no more supported by browsers. Therefore, you might see blank pages on some instances. Install Flash player plugin for Chrome from Chrome Web Store. Click here
Similarly, for other web browsers you will have to activate the relevant flash player plugins.
JOIN OUR ONLINE COURSES
New Youtube Channel - ThinkIGCSE
Hi Everyone, I have launched a new YouTube channel with more than a 100 videos on Economics and Business Studies, tailored specifically for IGCSE and A Level and IBDP students.
Subscribe now and join us on this learning journey: @thinkIGCSE
WHO'S ONLINE
We have 136 guests and no members online