The meaning of externalities
You will be given a packet of resources that we will use to address these objectives. It is really important to learn to draw and use the graphs properly so practise these. There are lots of real life examples of externalities of production and consumption and it is an excellent topic to do an IA on... you should be reading newspapers looking for good articles!
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Market failure as a failure to allocate resources efficiently
We will discuss what is meant by market success/allocative efficiency and the conditions for market success before we get started looking at all the ways markets may fail to allocate resources efficiently. https://docs.google.com/a/aisbudapest.org/document/d/1GE4wdZD6mcIJ8wCTiHhGQlve5uzcG5xpa8tiyzAGVVI/edit?usp=sharing Price ceilings: maximum prices
As SL students you do not need to be able to do the calculations but you do need to be able to do the following:
Indirect taxes
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March 2021
Maree SpraggonTeacher of IB Economics at the American School of Budapest Categories |