Units 2.1 & 2.5 Demand & Elasticity

REAL WORLD ISSUE: How do consumers and producers make choices in trying to meet their economic objectives?

The Basics of Demand

How sensitive is demand to price? (PED)

Non-Price Determinants of Demand

Price Elasticity of Demand - HL ONLY TOPICS

HL PED and Primary Commodities and Manufactured Goods (HL ONLY)

Changing PED along a straight line (HL ONLY)

BACK TO SL MATERIAL

How sensitive is demand to income? (YED)

The importance of YED for firms and the structure of the economy (HL ONLY)

Unit 2.4 Critiques of the maximizing behaviour of consumers and producers (HL ONLY)

Unit 2.4 - Rational Consumer Choice (HL ONLY)

Unit 2.4 - Behavioural Economics in Action (HL ONLY)