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IB HL Economics

This class was created by Brainscape user Anna Sapoznik. Visit their profile to learn more about the creator.

By: Anna Sapoznik
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Decks in this class (9)

1.1 + 1.2 What is economics?
Economics,
Microeconomics,
Macroeconomics
42  cards
2.1 Demand
What is demand,
Law of demand,
Competition occurs when
20  cards
2.2 Supply
What is supply,
Law of supply,
Individual supply
20  cards
2.3 Competitive Markets
Market equilibrium occurs at the ...,
Equilibrium price,
Excess supply or surplus
26  cards
2.4 Critique of the maximising behaviour of consumers and producers
Rational behaviour,
What is rational consumer choice,
Assumptions of rational consumer ...
21  cards
2.5 Elasticities of Demand
What is ped,
How to calculate ped,
Explain ped changing and the dema...
26  cards
2.6 Elasticity of Supply
Price elasticity of supply pes,
How to calculate pes,
When is pes inelastic and show th...
14  cards
2.7 Role of Government
Reasons why governments want to i...,
Main forms of government interven...,
What are price controls
31  cards
2.8 + 2.9 Market Failure
What is a market failure,
True or false externalities can l...,
Define externality
187  cards

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IB HL Economics

  • Class purpose General learning

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