Review/Revision
Unit 2.11(5): Market power - Oligopoly(HL)
This page covers oligopoly in terms of the nature of the market, collusive and non-collusive oligopoly, game theory, price rigidity, non-price competition and efficiency. An oligopoly is a market model...
eBook
Unit 2.11(5) Market power - Oligopoly(HL)
An oligopoly is a market model in which a small number of large firms dominate. In this situation, a small number of large firms account for a large share of total market revenue, while the rest of the...
Review/Revision
Unit 2.11(4): Market power - Monopolistic competition(HL)
This page covers monopolistic competition in terms of the nature of the market, price and output, profits and losses and efficiency. Many buyers and sellers mean each firm has very limited market power....
Blog
FT Blog: Pennsylvania voters unite against data centres Free
This blog is based on the article published by the Financial Times on September 3 2026 https://www.ft.com/content/8252d574-ae2a-4403-9cf9-031295ba67f5?syn-25a6b1a6=1 This article is part of the Financial...
Review/Revision
Unit 2.11(3): Market power - Monopoly(HL)
This page covers monopoly in terms of the nature of the market, barriers to entry, price and output, profits and losses and efficiency. A monopoly exists when one firm's output accounts for the industry's...
Review/Revision
Unit 2.11(2) Market power - Perfect competition(HL)
This page covers the nature of perfect competition, price and output in the market, profits and losses and efficiency in perfect competition. Agricultural markets provide the best examples of perfect...
Review/Revision
Unit 2.11(1): Market power - Theory of production and costs (HL)
This page covers the theory of product, the law of diminishing returns, the different ways of classifying costs, the link between the law of diminishing returns and costs, and how marginal cost affects...
Lesson plans
Economic systems
This lesson focuses on different types of economic systems and the advantages and disadvantages of each type of system. I have included the introductory exercise in editable form so that you can add...
Review/Revision
Unit 2.10: Asymmetric information (HL)
This page explores the nature of asymmetric information as a market failure from both buyer and seller perspectives, including adverse selection, moral hazard, and relevant policies. Asymmetric information...
Review/Revision
Unit 2.9: Public goods
This page explores the nature of public goods and the reasons why they constitute a market failure. It also covers policy options for providing public goods. Public goods have the characteristics of...