And miles to go before I sleep.....And miles to go before I sleep.
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syllabus 1.3 Intervention

Home
Syllabus 1.3
Intervention
1.3 Big Questions
IBQ samples
1.3 Mayu Notes
131 - Price Control Intervention
132 - Taxes + Subsidies Intervention
137 Black Markets - Why?
138 Deadweight Loss
Picture
News Article: Rent Control
Price Control in Venezuela
Economics Fun: 10/10. Excellent summary of burden of a tax with expert use of diagrams and a nice table as a summary.
Economics Fun: 8/10. Very good. Longstreet explains nicely the concept of Deadweight Loss.
130 - Big Ideas 1.3
You   Tube 1.3
Worksheets:
133 - Taxes + Revenue + Elasticity
134 - Taxes
1.3 - Government Intervention

1.     ad valorem tax

2.     direct tax

3.     disequilibrium

4.     flat rate tax

5.     glut (due to price control)

6.     incidence of a tax (impact of elasticity)

7.     indirect tax

8.     price ceiling (maximum price)

9.     price control

10.  price floor (minimum price)

11.  subsidy

12.  rent control

13.  parallel/black/informal market

14.  minimum wage

Phrases from syllabus:

1.     welfare impact of indirect taxes

2.     price support for agricultural products

3.     shortage due to price control

4.     surplus due to price control

Picture
135 Deadweight Loss
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