Lesson plans
Monopoly (HL only)
This lesson focuses on monopoly structures and specifically the way that a monopoly is able to take advantage of barriers to entry to establish their position as the only firm within the industry. It...
Activities
Efficiency in perfect competition (HL only)
The student activities on this page are connected to the teacher page: Efficiency in perfect competition (HL only) Consider two firms - a small family run business selling kebabs and other snacks and...
Lesson plans
Efficiency in perfect competition (HL only)
This page focuses on the concepts of allocative efficiency and looks at why firms in perfect competition will be both productive and allocatively efficient in the long run. Productive efficiency is no...
Activities
Profit in perfect competition (HL only)
The student activities on this page are connected to the teacher page: Profit in perfect competition (HL only) Normal profit - when a firms revenue is sufficient to cover the firms costs, including the...
Lesson plans
Profit in perfect competition (HL only)
Your students will already have learnt to draw demand curves in the first part of the course but they will also need to practise drawing the unique demand curve for a perfectly competitive firms. Something...
Lesson plans
Perfect competition (HL only)
This is the beginning of the section on perfect competition. There are a number of paper one questions on this topic, some of which are included on this site. This lesson looks at the conditions of...
Activities
Unit 2.11: Costs, revenue and profit review sheet (HL only)
The student activities on this page are connected to the teacher page: Unit 2.11: Costs, revenue and profit review sheet (HL only) Review sheet available as a PDF file at: Review sheet...
Activities
Market power crossword
This page contains the student activities for the teacher page: Market power crossword Across 4. The minimum a firm needs to make to stay inbusiness7. When at least one cost of the business is fixed9....
Activities
Economic profit (HL only)
This page contains the student activities for the teacher page: Economic profit (HL only) Imagine that you resign from a well paid job earning $ 90,000 per year and set up a business. What would your...
Lesson plans
Economic profit (HL only)
This lesson looks at the different types of economic profit − normal (zero profit), abnormal (economic profit) and loss (negative economic profit). Implicit costs (that make up economic profit) are no...