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1.1 What Is Economics?

1.2 How Do Economists Approach the World?

2.1 Demand

2.2 Supply

2.3 Competitive Market Equilibrium

2.4 Critique of the Maximizing Behaviour of Consumers and Producers (HL Only)

2.5 Elasticities of Demand

2.6 Elasticity of Supply

2.7 Role of Government in Microeconomics

2.8 Market Failure - Externalities, Common Pool Resources, Public Goods, Asymmetric Information

2.9 Market Failure - Public Goods

2.10 Market Failure - Asymmetric Information (HL Only)

2.11 Market Failure - Market Power (HL Only)

2.12 The Market’s Inability to Achieve Equity (HL Only)

3.1 Measuring Economic Activities

3.2 Variations in Economic Activity - Aggregate Demand and Aggregate Supply

3.3 Macroeconomic Objectives

3.4 Economics of Inequality and Poverty

3.5 Demand Management - Monetary Policy

3.6 Demand Management - Fiscal Policy

3.7 Supply Side Policies

4.1 Benefits of International Trade

4.2 Types of Trade Protection

4.3 Arguments For and Against Trade Protection

4.4 Economic Integration

4.5 Exchange Rates

4.6 Balance of Payments

4.7 Sustainable Development

4.8 Measuring Development

4.9 Barriers to Economic Growth and Economic Development

4.10 Economic Growth and Economic Development Strategies

IB Economics 2.5 Elasticities of Demand Lessons

Written by IB Experts

This lesson delivers structured, step-by-step lessons that guide students through every part of the IB Economics syllabus for 2.5 Elasticities of Demand. These lessons simplify complex ideas like market failures, game theory, and behavioral economics, while worked examples show how to approach IB-style questions.

Designed for both HL and SL learners, RevisionDojo lessons ensure students not only understand the theory but also know how to apply it in IB Paper exam situations.

With clear explanations, active learning checks, and a syllabus-first design, RevisionDojo makes revision less overwhelming and more effective.

2.5.1 Concept of Elasticity

2.5.2 Price Elasticity of Demand (PED) (HL)

2.5.3 Importance of PED for Firms and Government Decision Making

2.5.4 Why PED for Primary Commodities Is Generally Lower than Manufactured Products (HL Only)

2.5.5 Income Elasticity of Demand (YED)

2.5.6 Importance of YED (HL Only)

IB Economics 2.5 Elasticities of Demand Lessons

1. Introduction to Economics

2. Microeconomics

3. Macroeconomics

4. The Global Economy

IB Economics 2.5 Elasticities of Demand Lessons

1. Introduction to Economics

2. Microeconomics

3. Macroeconomics

4. The Global Economy

Lessons for 2.5 Elasticities of Demand - IB

IB Economics 2.5 Elasticities of Demand Lessons