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      • 2.5: Elasticity (PeD + YeD)
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syllabus 2.7 Intervention

270 Big Ideas 2.7
99
270 - Big Ideas 2.7
426
Quizlet 426
IBQ
Syllabus 2.7
Intervention
IBQ samples
2.7 Mayu Notes
VID 7: Welker on Price control
VID 8: MJM on Price Control
136 Indirect Taxes + Subsidy (59)
131 - Price Control Intervention (57)
132 -Indirect Tax: Specific+Ad valorem (59)
137 Black Markets - (Informal) (176)
138 Deadweight Loss

HL only: Hp 3 Practice

278: HP 3 Practice: Intervention
279 A:  - 2.7
279 B Working
Picture
News Story: Berlin Rent Control
News Story: Price Control Venezuela
VID 1: Welker 1-indirect tax
VID 2: Welker on Subsidy
 VID 3:  Tax Incidence/Burden.         
Fun: 10/10. Excellent summary of burden of a tax with expert use of diagrams and a nice table as a summary.
VID 10: Black markets in Australia
Worksheets:
133 - Taxes + Revenue + Elasticity
134 - Taxes
You   Tube 2.7
Video 4 Tutor2U on Indirect taxes)
​Video 5: What is deadweight loss ?
VID 6:  Deadweight Loss Fun: 8/10. Very good. Longstreet explains nicely the concept of Deadweight Loss.
VID 9: Tutor2U on Rent Control
VID 10: Welker on Price Control
2.7 - Key Terms 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



KEY ​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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