2.1 Markets

Microeconomics 2.1-2.2-2.3

2.1

203 Demand Function (26)

207 Demand Worksheet (26)

217 Utility, Income+Substitution Effect (23) (HLOnly)

2.2

202 Supply Function (32)

206 Supply Worksheet (32)

201 Diminishing Returns (29) (HL Only)

2.3

213 - S + D worksheet (35)

215 Supply + Demand Worksheet (35)

214 - Data Response (35)

218 Signal + Incentive (36)

204 Consumer Producer Surplus (37)

205 Consumer + Producer Surplus (37)

Evaluate the Market (price mechanism)+Resource Allocation

208 Allocation (Fish in Duesseldorf) (39)

209 Market (price mechanism) Advantages (39)

211 Market (price mechanism) Disadvantages I (39)

212 Market (price mechanism) Disadvantages II (39)

219 Best Answer sample

Online Activities:

Demand Quiz

216 Crossword Microeconomics

1.1 - Competitive Markets

1.     Market

2.     Price mechanism

3.     price (signal and incentive function)

4.     consumer demand

5.     market demand

6.     firm supply

7.     market supply

8.     clearing price/equilibrium

9.     demand function

10. law of demand

11. supply function

12. law of supply

13. ceteris paribus

14. movement in demand

15. movement in supply

16. price control

17. productive efficiency

18. shift in demand

19. shift in supply

20. subsidy

21. normal goods

22. inferior goods

23. substitute goods

24. complementary goods

25. producer surplus

26. consumer surplus

27. community/social surplus

28. Allocative efficiency (marginal benefit = marginal cost)

Phrases from syllabus:

1.     Price (signal and incentive function)