Unit 2.11: Market power (HL only)
- Unit 2.11: Market power (old syllabus 1.5)
- Links to pages with lesson plans for unit 2.11 (HL only)
- Assessment map
- Production (HL only)
- Costs of production (HL only)
- Economic profit (HL only)
- Revenue theory (HL only)
- Motives of business (HL only)
- Paper 3 question on revenue and costs (HL only)
- Unit 2.11: Costs, revenue and profit review sheet (HL only)
This is a link page to sub-pages, containing lesson plans and learning activities, which provide activities and lesson plans for the new microeconomics unit, 2.11: Market power. Under the old syllabus this unit was called 1.5: Theory of the firm.
Typically each lesson plan includes resources to use on an interactive whiteboard and worksheets to print. The pages have full student access to give maximum flexibility to the teacher and the student. There are theoretical notes for extended reading and teacher notes at the top that provide timing information lesson objectives and activity instructions.
Direct links to the unit pages can be accessed at:
This page provides a map of the various assessments included in the unit, including short answers responses, essays and areas for discussion. I have included a section A and section B blank essay template...
This page begins unit 2.12 and focuses on the relationship between output, time and variable inputs into a business. This includes the concept of diminishing returns. A simple exercise to start off...
This page begins the section of the course on revenues and costs of a business. I find that I am very often surprised by the confusion that the word cost means to many IB economics students, with so...
This lesson looks at the different types of economic profit − normal (zero profit), abnormal (economic profit) and loss (negative economic profit).What are the different types of profit in business...
This lesson focuses on more definitions of costs and revenue and contains a number of paper three type questions. Learning by doing is an effective way for your students to learn the primary concepts.
The focus of this lesson is the various objectives of any business. It is generally assumed in economics that private sector businesses operate primarily for profit while those in the public sector operate...
This page contains a paper three type question on cost. Allow 50 minutes for this exercise.1. A firm has the following costs and revenue, all costs are in thousands of $s.Output (units)
I have included this page, which contains a PDF handout as a simple revision exercise. I find that many IB students get a degree of comfort from these short summary handouts.Review sheet available as...