Flashcards for 2. Microeconomics - IB
These interactive flashcards help IB Economics students Standard Level (SL) and Higher Level (HL) quickly review and memorize the essential definitions, formulas, and terms needed for success in IB Exams. Each card focuses on 2. Microeconomics and is aligned with the IB Economics syllabus, ensuring focused revision on microeconomics, macroeconomics, and international trade. Students can test themselves anytime, anywhere, perfect for reinforcing tricky concepts, learning IB terminology, and committing formulas to memory. By using RevisionDojo's flashcards consistently, learners turn repetition into mastery and enter the exam with confidence.
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2.11 Market failure - market power (HL only)
11 subtopics
2.11.1 Perfect competition
19 flashcards
2.11.2 Monopoly - single or dominant firm, high barriers to entry, no close substitutes
16 flashcards
2.11.3 Imperfect competition
20 flashcards
2.11.4 Rational producer behaviour
20 flashcards
2.11.5 Degrees of market power
18 flashcards
2.11.6 Monopoly
20 flashcards
2.11.7 Oligopoly
20 flashcards
2.11.8 Monopolistic competition
20 flashcards
2.11.9 Advantages of large firms having significant market power
19 flashcards
2.11.10 Risks in markets dominated by one or a few very large firms
18 flashcards
2.11.11 Government intervention in response to abuse of significant market power
21 flashcards