IB Economics Topic 2.11 Market Failure - Market Power (HL) covers syllabus content. Use these notes, questionbank, videos, flashcards, and lessons to review the topic, practise exam questions, and move between notes, videos, flashcards, and lessons where available.
What this topic covers
2.11.1 Perfect Competition
2.11.2 Monopoly - Single or Dominant Firm, High Barriers to Entry, No Close Substitutes
2.11.3 Imperfect Competition
2.11.4 Rational Producer Behaviour
2.11.5 Degrees of Market Power
2.11.6 Monopoly
2.11.7 Oligopoly
2.11.8 Monopolistic Competition
2.11.9 Advantages of Large Firms Having Significant Market Power
2.11.10 Risks in Markets Dominated by One or a Few Very Large Firms
2.11.11 Government Intervention in Response to Abuse of Significant Market Power