Microeconomics – Economics SL
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Microeconomics
About the Notes: Variation Details:category: Jishnu Mehra ,Individuals and societies,sl, Economics SL
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course content
Demand - Supply
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- Price mechanism
- Allocative efficiency
- Marginal benefit
- Marginal cost
- Consumer Surplus
- Producer surplus
- Price Elasticity of Demand(PED)
- Income Elasticity of Demand(YED)
- Price Elasticity of Supply(PES)
- Why governments intervene in markets
- Price controls
- Price floor
- Minimum wages
- Indirect taxes
- Subsidies
- Market failure and externalities: diverging social and private benefit and cost
- Negative Externalities
- Policies to correct negative production externalities and prevent overuse of common pool resources
- Negative Consumptions externalities
- Policies to correct negative consumption externalities and prevent overuse of common pool resources-
- Positive Externalities
- Correcting positive production externalities
- Positive consumption externality
- Correcting positive consumption externalities
- Conclusion
Jishnu
Passionate about space and engineering. Freshman at Delft University of Technology, pursuing BSc in Aerospace Engineering. Valedictorian of Fountainhead School (2024) with an IB score of 43/45, including perfect 7s in Math AA, Physics, Chemistry HL, and Economics SL. Scored 20/20 on Math AA IA.
Economics HLTeaching Assistant for IB Math and Physics+ years of tutoring experience
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