{"id":180,"date":"2010-09-13T08:02:13","date_gmt":"2010-09-13T14:02:13","guid":{"rendered":"http:\/\/opengecko.com\/economics\/ib-economics\/ib-eco-2-1-markets\/"},"modified":"2010-10-29T07:41:34","modified_gmt":"2010-10-29T13:41:34","slug":"2-1-markets","status":"publish","type":"page","link":"https:\/\/opengecko.com\/geckoview\/economics\/ib-economics\/microeconomics\/2-1-markets\/","title":{"rendered":"2.1 Markets"},"content":{"rendered":"\n\n\n\n\n
Definition of markets with relevant local, national and international examples<\/td>\nhttp:\/\/opengecko.com\/ib-economics\/markets\/<\/a><\/td>\n<\/tr>\n
\n

Brief descriptions of perfect competition, monopoly and oligopoly as different types of
market structures, and monopolistic competition, using the characteristics of the number
of buyers and sellers, type of product and barriers to entry<\/p>\n<\/td>\n

http:\/\/opengecko.com\/ib-economics\/markets\/<\/a><\/td>\n<\/tr>\n
Importance of price as a signal and as an incentive in terms of resource allocation<\/td>\nhttp:\/\/opengecko.com\/ib-economics\/markets\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Demand<\/strong><\/p>\n\n\n\n\n\n\n\n
Definition of demand<\/td>\nhttp:\/\/opengecko.com\/ib-economics\/introducing-demand\/<\/a><\/td>\n<\/tr>\n
Law of demand with diagrammatic analysis<\/td>\nhttp:\/\/opengecko.com\/ib-economics\/introducing-demand\/<\/a><\/td>\n<\/tr>\n
Determinants of demand<\/td>\nhttp:\/\/opengecko.com\/ib-economics\/introducing-demand\/<\/a><\/td>\n<\/tr>\n
\n

Fundamental distinction between a movement along a demand curve and a shift
of the demand curve<\/p>\n<\/td>\n

http:\/\/opengecko.com\/ib-economics\/introducing-demand\/<\/a><\/td>\n<\/tr>\n
Exceptions to the law of demand (the upward-sloping demand curve) <\/font>Higher level extension topic
<\/font><\/strong> <\/p>\n
    \n
  • ostentatious (Veblen) goods<\/font><\/li>\n
  • role of expectations<\/font><\/li>\n
  • Giffen goods<\/font><\/li>\n<\/ul>\n<\/td>\n
http:\/\/opengecko.com\/ib-economics\/can-the-demand-curve-really-slope-upwards\/<\/font><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Supply<\/strong><\/p>\n\n\n\n\n\n\n\n
Definition of supply<\/td>\nhttp:\/\/opengecko.com\/economics\/supply\/<\/a><\/td>\n<\/tr>\n
Law of supply with diagrammatic analysis<\/td>\nhttp:\/\/opengecko.com\/economics\/supply\/<\/a><\/td>\n<\/tr>\n
Determinants of supply<\/td>\nhttp:\/\/opengecko.com\/economics\/supply\/<\/a><\/td>\n<\/tr>\n
Effect of taxes and subsidies on supply<\/td>\n <\/td>\n<\/tr>\n
\n

Fundamental distinction between a movement along a supply curve and a shift
of the supply curve<\/p>\n<\/td>\n

http:\/\/opengecko.com\/economics\/supply\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Interaction of demand and supply<\/strong><\/p>\n\n\n\n\n
Equilibrium market clearing price and quantity<\/td>\nhttp:\/\/opengecko.com\/economics\/supply-and-demand-interacting-the-equilibrium-price\/<\/a><\/td>\n<\/tr>\n
\n

Diagrammatic analysis of changes in demand and supply to show the adjustment
to a new equilibrium<\/p>\n<\/td>\n

http:\/\/opengecko.com\/economics\/supply-and-demand-interacting-the-equilibrium-price\/<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Price controls<\/strong><\/p>\n\n\n\n\n\n\n
Maximum price: causes and consequences<\/td>\nhttp:\/\/opengecko.com\/economics\/the-effects-of-price-controls\/<\/a><\/td>\n<\/tr>\n
Minimum price: causes and consequences<\/td>\nhttp:\/\/opengecko.com\/economics\/the-effects-of-price-controls\/<\/a><\/td>\n<\/tr>\n
Price support\/buffer stock schemes<\/td>\nhttp:\/\/opengecko.com\/economics\/the-effects-of-price-controls\/<\/a><\/td>\n<\/tr>\n
Commodity agreements<\/td>\n <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Definition of markets with relevant local, national and international examples http:\/\/opengecko.com\/ib-economics\/markets\/ Brief descriptions of perfect competition, monopoly and oligopoly as different types of market structures, and monopolistic competition, using the characteristics of the number of buyers and sellers, type of product and barriers to entry http:\/\/opengecko.com\/ib-economics\/markets\/ Importance of price as a signal and as an…<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":182,"menu_order":1,"comment_status":"closed","ping_status":"open","template":"","meta":{"footnotes":""},"tags":[],"class_list":["post-180","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/180","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=180"}],"version-history":[{"count":7,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/180\/revisions"}],"predecessor-version":[{"id":283,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/180\/revisions\/283"}],"up":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/pages\/182"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=180"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}