目录 1 Demand, supply, and the market equilibrium Key concepts The market Ceteris paribus The law of demand Determinants of demand The law of supply Determinants of supply Movement ( quantity demanded/supplied ) vs. shift Why does price tend to form around the equilibrium price How can the market equilibrium be changed Resource allocation and the signaling and incentive functions of price Scarcity Market efficiency Example questions and answers Question group 1: Determinants of demand and supply Question group 2: The signaling and incentive functions of price Exercises 2 Elasticities Key concepts Price elasticity of demand ( PED ) PED, revenue, and marginal revenue Cross price elasticity of demand (XED) Income elasticity of demand (YED) Price elasticity of supply ( PES ) Example questions and answers Question group 1: Determinants of elasticities Question group 2: Usefulness of the knowledge of elasticities Exercises 3 Taxes, subsidies, and price controls (government intervention in the free market ) Key concepts Indirect tax Market outcomes of an indirect tax Impact on stakeholders from an indirect tax How to find the tax burden (tax incidence ) for consumers and producers ( HL only ) Subsidy Price ceilings (maximum prices) Price floors (minimum prices) Impacts on stakeholders Example questions and answers Question group 1: Comparing the effects of government interventions Question group 2: Government intervention vs. the free market Exercises 4 Market failure Key concepts Market failure Social welfare and allocative efficiency Public goods Excludability and rivalry Common access resources Externalities Positive externality of production Positive externality of consumption ( merit goods ) Negative externality of production …… 5 Cost, revenue, and profit (HL only) 6 Market structures (HL only) 7 Price discrimination (HL only) 8 The macroeconomic eauilibrium 9 Unemployment 10 Inflation 11 Economic growth 12 Equity in the distribution of income 13 Macroeconomic objectives and policies 14 Measurement problems 15 Free trade vs. protectionism 16 Exchange rate 17 Balance of payments 18 Economic inteqration and terms of trade IB-style exercises for Section 3 19 Economic growth and economic development 20 Development factors 21 Market vs. intervention IB-style exercises for Section 4 Appendix
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