File "unit-21-25-competitive-markets-quiz.html"
Path: /ThinkIB/bm_econ/economics/page/44474/unit-21-25-competitive-markets-quizhtml
File size: 144.87 KB
MIME-type: text/html
Charset: utf-8
<!DOCTYPE html>
<html lang="en">
<head>
<!-- Google Tag Manager -->
<script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':
new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],
j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src=
'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);
})(window,document,'script','dataLayer','GTM-K5VSFSN');
</script>
<!-- End Google Tag Manager -->
<meta http-equiv="x-ua-compatible" content="IE=Edge"/>
<title>DP Economics: Unit 2.1- 2.5: Competitive markets quiz</title>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1.0" />
<meta name="robots" content="none" /><meta name="robots" content="noindex, nofollow" />
<base href="https://www.student.thinkib.net" /><meta name="keywords" content="multiple choice questions, unit 2Economics, ThinkIB.net, InThinking, IB, IBDP, IBMYP" /><meta name="description" content="Unit 2.1- 2.5: Competitive markets quiz. ThinkIB.net Economics is an InThinking website." />
<link href="css/bootstrap.min.css" rel="stylesheet" media="screen" />
<link href="css/font-awesome-4.7.0/css/font-awesome.min.css" rel="stylesheet">
<link href="/css/top-nav.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link href="/css/style.min.css?v=202308071530" rel="stylesheet" media="screen" />
<link href="/css/style-ib.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link rel="stylesheet" type="text/css" href="/js/jq-fancybox/jquery.fancybox.min.css">
<link href="js/jq-fancybox/jquery.fancybox.min.css" type="text/css" rel="stylesheet">
<link rel="stylesheet" href="/css/side-nav.min.css?v=202305221900" /><link rel="stylesheet" href="/assets/css/ckeditor5-custom.css" type="text/css"><link rel="stylesheet" href="/css/std-access.min.css?v=202305221900" /><link rel="stylesheet" href="/css/snippets.min.css?v=202305221900" /><link rel="stylesheet" href="/css/article.min.css?v=2023061230" /><script src="/js/localdates.min.js?v=202009290900"></script><script src="/js/ifvisible.min.js"></script><script>ifvisible.setIdleDuration(300);</script><script>var tibSitename = "economics";</script>
<script>
const SITE_TAG = "ib"
const SITE_WEB = "ThinkIB.net"
const SITE_DOMAIN = "www.thinkib.net"
const SITE_URI = "https://thinkib.net"
const SITE_CLIENT_CODE = "TIB000001"
let imageThinker = "https://assets.inthinking.net/thinkib/header-thinker-ib.svg";
let imageStudent = "https://assets.inthinking.net/thinkib/header-student-thinkib.svg";
</script>
<script>var userHash = "1164ffdb5b0fa1709243f22ebefcb0a3", userTicket = "fd6a5e8a06cfccf2";</script><script src="/js/user/local-stats.min.js?v=202102101800"></script><link rel="apple-touch-icon-precomposed" sizes="57x57" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-57x57.png" /><link rel="apple-touch-icon-precomposed" sizes="114x114" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-114x114.png" /><link rel="apple-touch-icon-precomposed" sizes="72x72" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-72x72.png" /><link rel="apple-touch-icon-precomposed" sizes="144x144" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-144x144.png" /><link rel="apple-touch-icon-precomposed" sizes="60x60" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-60x60.png" /><link rel="apple-touch-icon-precomposed" sizes="120x120" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-120x120.png" /><link rel="apple-touch-icon-precomposed" sizes="76x76" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-76x76.png" /><link rel="apple-touch-icon-precomposed" sizes="152x152" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-152x152.png" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-196x196.png" sizes="196x196" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-96x96.png" sizes="96x96" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-32x32.png" sizes="32x32" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-16x16.png" sizes="16x16" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-128.png" sizes="128x128" /><meta name="application-name" content=" "/><meta name="msapplication-TileColor" content="#FFFFFF" /><meta name="msapplication-TileImage" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-144x144.png" /><meta name="msapplication-square70x70logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-70x70.png" /><meta name="msapplication-square150x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-150x150.png" /><meta name="msapplication-wide310x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x150.png" /><meta name="msapplication-square310x310logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x310.png" />
</head>
<body onunload="" class="student-access">
<!-- Google Tag Manager (noscript) -->
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-K5VSFSN"
height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>
<!-- End Google Tag Manager (noscript) -->
<div id="header">
<div class="wmap">
<div class="layout-wrapper">
<div class="container-fluid">
<div class="pull-right visible-phone">
<a href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 45px; width: auto">
</a>
</div>
<div class="visible-phone" style="clear:both;"></div>
<div class="pull-left">
<h1><a href="/economics?lg=50735"><span style="font-size: .8em;">IBDP Economics - Student pages</span></a></h1>
<p class="slogan hidden-phone"><span class="slogan"><em>InThinking</em> Subject Sites for teachers & their classes</span></p>
<p class="hidden-phone"><em>Group: <br>Teacher: </em></p>
</div>
<div class="pull-right text-right">
<a class="hidden-phone" href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 70px; width: auto">
</a>
<div class="search"><a href="#" class="toggle-menu-search" data-toggle="dropdown" title="Search"><i class="fa fa-2x fa-search"></i></a></div>
</div>
</div>
</div>
</div>
</div>
<div id="topmenu">
<div class="layout-wrapper">
<div>
<nav class="top-nav"><ul class="level-0"><li><a href="https://www.student.thinkib.net/economics?lg=50735"><i class="fa fa-home"></i> Home</a></li><li ><a href="https://www.student.thinkib.net/economics/page/20131/start-here">Start here</a></li><li ><a href="https://www.student.thinkib.net/economics/page/27378/the-ib-core">The IB core</a></li><li ><a href="https://www.student.thinkib.net/economics/page/32112/textbook">Textbook</a></li><li class="selected"><a href="https://www.student.thinkib.net/economics/page/20132/units-1-2-microeconomics">Units 1-2: Microeconomics</a></li><li ><a href="https://www.student.thinkib.net/economics/page/21842/unit-3-macroeconomics-">Unit 3: Macroeconomics </a></li><li ><a href="https://www.student.thinkib.net/economics/page/21844/unit-4-global-economy">Unit 4: Global economy</a></li><li ><a href="https://www.student.thinkib.net/economics/page/21380/assessment">Assessment</a></li><li ><a href="https://www.student.thinkib.net/economics/page/4332/exam-style-questions">Exam style questions</a></li></ul></nav>
</div>
</div>
</div>
<nav id="nav-menu-search" class="shadow-md" style="display: none;">
<div class="layout-wrapper">
<form class="form-inline" role="search" method="get" action="economics/search">
<input id="nav-search" name="s" type="search" placeholder="Search Economics..." value="">
<button class="btn btn-sm btn-primary" type="submit">
Search
</button>
<a href="#" class="toggle-menu-search" title="Close">
<i class="fa fa-lg fa-times gray"></i>
</a>
</form>
</div>
</nav>
<div class="layout-wrapper">
<div id="container" class="container-fluid">
<div id="content">
<div class="row-fluid">
<div id="left-column" class="span3"> <div id="userbox">
<div class="dropdown" style="display: flex; align-items: center;">
<a href="#" data-toggle="dropdown" class="dropdown-toggle btn">
<img style="width: 16px; height: 16px; margin: -2px 0 0 0;" src="https://assets.inthinking.net/thinkib/user/generic/32-generic-user.png">
IB Docs (2) Team <i class="fa fa-caret-down"></i>
</a>
<ul class="dropdown-menu" id="menu1">
<li class="dropdown-submenu"><a href="#" data-toggle="dropdown" class="dropdown-toggle"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Business Management</a><ul class="dropdown-menu" style="padding: 0; border-radius: 3px; margin-left: -4px; margin-top: -1px;"><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51189"><i class="fa fa-group gray fixwidth"></i> 1</a></li><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51192"><i class="fa fa-group gray fixwidth"></i> 2</a></li></ul></li><li><a href="https://www.student.thinkib.net/economics?lg=50735"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Economics</a></li><li class="divider"></li><li><a href="https://www.student.thinkib.net"><i class="fa fa-dashboard fixwidth colored"></i> Dashboard</a></li><li><a href="https://www.student.thinkib.net/?pan=tasks"><i class="fa fa-pencil fixwidth colored"></i> All tasks</a></li><li><a href="https://www.student.thinkib.net/std/profile-editor"><i class="fa fa-user fixwidth colored"></i> My profile</a></li>
<li class="divider"></li>
<li>
<a href="https://www.student.thinkib.net?logout=1">
<i class="fa fa-power-off fixwidth"></i> Log out
</a>
</li>
</ul>
</div>
</div><div style="margin: 20px 0;"><a href="https://www.student.thinkib.net/economics/sitemap" class="btn btn-default btn-block"><i class="fa fa-sitemap fixwidth colored"></i>Sitemap</a></div><div id="topicsnav" style="margin: 0; padding: 0px;"> <div class="row-fluid accordion-group" style="border: 0px; margin-bottom: 0px;"> <div style="padding: 6px 4px 6px 8px; background: #204a87;"> <a class="accordion-toggle std-header" style="color: #fff; text-shadow: 1px 1px 1px #444; padding: 0px; text-decoration: none; font-size: 16px; font-weight: 400;" data-toggle="collapse" data-parent="#topicsnav" href="#side-box-topics-list"> <i class="fa fa-caret-right fa-rotate-90 white" style="margin-left: 4px;"></i> Topics </a> <span id="sidetreecontrol"> <a title="Collapse all" rel="collapse" href="#"> <i class="fa fa-minus-circle"></i> </a> <a title="Expand all" rel="expand" href="#"> <i class="fa fa-plus-circle"></i> </a> </span> </div> <div id="side-box-topics-list" class="accordion-body in collapse"> <div class="accordion-inner" style="line-height: 1.7em; padding: 0;"> <nav class="side-nav" id="sidemenu"><ul class="level-0 always-expanded"><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20131/start-here" title="Start here">Start here</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/46026/getting-started-for-students" title="Getting started for students">Getting started for students</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45198/predicted-grade-calculator" title="Predicted grade calculator">Predicted grade calculator</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Using the student access on the site ">Using the student access on the site </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32021/giving-students-access-to-the-inthinking-site" title="Giving students access to the Inthinking site">Giving students access to the Inthinking site</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20150/recommended-reading-" title="Recommended reading ">Recommended reading </a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Economics games">Economics games</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26967/activities-and-simulations" title="Activities and simulations">Activities and simulations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41381/crosswords" title="Crosswords">Crosswords</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Old curriculum resources">Old curriculum resources</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29986/price-discrimination-old-syllabus-hl" title="Price discrimination (old syllabus) HL">Price discrimination (old syllabus) HL</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/27378/the-ib-core" title="The IB core">The IB core</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/1583/extended-essay" title="Extended essay">Extended essay</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/27917/the-5-year-rule-in-economics-" title="The 5 year rule in economics ">The 5 year rule in economics </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21411/using-the-ee-markbands-" title="Using the EE markbands ">Using the EE markbands </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21412/focus-on-the-criteria-" title="Focus on the criteria ">Focus on the criteria </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20780/extended-essay-checklist" title="Extended essay checklist">Extended essay checklist</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20786/exemplar-extended-essay-" title="Exemplar extended essay ">Exemplar extended essay </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20819/annotated-extended-essay-sample-1-grading-criteria" title="Annotated extended essay sample 1 (grading criteria)">Annotated extended essay sample 1 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36082/annotated-extended-essay-sample-1" title="Annotated extended essay sample 1">Annotated extended essay sample 1</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36110/annotated-extended-essay-sample-1-grading-criteria" title="Annotated extended essay sample 1 (grading criteria)">Annotated extended essay sample 1 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20792/annotated-extended-essay-sample-2" title="Annotated extended essay sample 2">Annotated extended essay sample 2</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20820/annotated-extended-essay-sample-2-grading-criteria" title="Annotated extended essay sample 2 (grading criteria)">Annotated extended essay sample 2 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26701/annotated-extended-essay-sample-3" title="Annotated extended essay sample 3">Annotated extended essay sample 3</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26702/annotated-extended-essay-sample-3-grading-criteria" title="Annotated extended essay sample 3 (grading criteria)">Annotated extended essay sample 3 (grading criteria)</a></li></ul></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32112/textbook" title="Textbook">Textbook</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33061/contents-page" title="Contents page">Contents page</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/37990/textbook-approach-to-the-new-ib-economics-examination-specificat" title="Textbook approach to the new IB Economics examination specification">Textbook approach to the new IB Economics examination specification</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33060/chapter-1-introduction-to-economics" title="Chapter 1: Introduction to Economics">Chapter 1: Introduction to Economics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32395/unit-11-introduction-to-economics" title="Unit 1.1: Introduction to Economics">Unit 1.1: Introduction to Economics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32541/unit-12-how-do-economists-approach-the-world" title="Unit 1.2: How do economists approach the world?">Unit 1.2: How do economists approach the world?</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33063/chapter-2-microeconomics" title="Chapter 2: Microeconomics">Chapter 2: Microeconomics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32533/unit-21-demand-theory" title="Unit 2.1: Demand theory">Unit 2.1: Demand theory</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32555/unit-22-supply-theory" title="Unit 2.2: Supply theory">Unit 2.2: Supply theory</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32567/unit-23-competitive-market-equilibrium" title="Unit 2.3: Competitive market equilibrium">Unit 2.3: Competitive market equilibrium</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32575/unit-241-behavioural-economics-hl" title="Unit 2.4(1): Behavioural economics (HL)">Unit 2.4(1): Behavioural economics (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32798/unit-242-business-objectives-hl" title="Unit 2.4(2): Business objectives (HL)">Unit 2.4(2): Business objectives (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32663/unit-251-price-elasticity-of-demand-ped" title="Unit 2.5(1): Price elasticity of demand (PED)">Unit 2.5(1): Price elasticity of demand (PED)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32788/unit-252-income-elasticity-of-demand-yed-" title="Unit 2.5(2): Income elasticity of demand (YED) ">Unit 2.5(2): Income elasticity of demand (YED) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32789/unit-26-price-elasticity-of-supply-pes-" title="Unit 2.6: Price elasticity of supply (PES) ">Unit 2.6: Price elasticity of supply (PES) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33388/unit-271-governments-in-markets-tax-and-subsidy-" title="Unit 2.7(1): Governments in markets - tax and subsidy ">Unit 2.7(1): Governments in markets - tax and subsidy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33424/unit-272-governments-in-markets-price-controls" title="Unit 2.7(2): Governments in markets - price controls">Unit 2.7(2): Governments in markets - price controls</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33665/unit-281-market-failure-externalities" title="Unit 2.8(1): Market failure – externalities">Unit 2.8(1): Market failure – externalities</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33808/unit-282-market-failure-merit-goods-and-demerit-goods-" title="Unit 2.8(2): Market failure - merit goods and demerit goods ">Unit 2.8(2): Market failure - merit goods and demerit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34054/unit-283-government-intervention-to-manage-externalities-merit-a" title="Unit 2.8(3): Government intervention to manage externalities, merit and demerit goods ">Unit 2.8(3): Government intervention to manage externalities, merit and demerit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34082/unit-284-common-access-pool-resources" title="Unit 2.8(4): Common access (pool) resources">Unit 2.8(4): Common access (pool) resources</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34087/unit-29-public-goods" title="Unit 2.9: Public goods">Unit 2.9: Public goods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34247/unit-210-asymmetric-information-hl" title="Unit 2.10: Asymmetric information (HL)">Unit 2.10: Asymmetric information (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35118/unit-2111-market-power-theory-of-production-and-costs-hl" title="Unit 2.11(1) Market power - Theory of production and costs (HL)">Unit 2.11(1) Market power - Theory of production and costs (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35125/unit-2112-market-power-perfect-competitionhl" title="Unit 2.11(2) Market power - Perfect competition(HL)">Unit 2.11(2) Market power - Perfect competition(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35147/unit-2113-market-power-monopolyhl" title="Unit 2.11(3) Market power - Monopoly(HL)">Unit 2.11(3) Market power - Monopoly(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35151/unit-2114-market-power-monopolistic-competitionhl" title="Unit 2.11(4) Market power - Monopolistic competition(HL)">Unit 2.11(4) Market power - Monopolistic competition(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35153/unit-2115-market-power-oligopolyhl" title="Unit 2.11(5) Market power - Oligopoly(HL)">Unit 2.11(5) Market power - Oligopoly(HL)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41603/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43378/opportunity-cost-and-production-possibility-curves" title="Opportunity cost and production possibility curves">Opportunity cost and production possibility curves</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42559/demand-theory" title="Demand theory">Demand theory</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41886/the-price-mechanism" title="The price mechanism">The price mechanism</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43188/market-demand-and-supply" title="Market demand and supply">Market demand and supply</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41705/demerit-goods" title="Demerit goods">Demerit goods</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42275/market-failure-and-climate-change" title="Market failure and climate change">Market failure and climate change</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42925/market-power" title="Market power">Market power</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42099/applying-game-theory" title="Applying game theory">Applying game theory</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34407/chapter-3-macroeconomics" title="Chapter 3: Macroeconomics">Chapter 3: Macroeconomics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34355/unit-311-measuring-the-level-of-economic-activity" title="Unit 3.1(1): Measuring the level of economic activity">Unit 3.1(1): Measuring the level of economic activity</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34432/unit-312-measuring-economic-development" title="Unit 3.1(2): Measuring Economic Development">Unit 3.1(2): Measuring Economic Development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34485/unit-321-variations-in-economic-activity-aggregate-demand-ad-" title="Unit 3.2(1): Variations in economic activity - aggregate demand (AD) ">Unit 3.2(1): Variations in economic activity - aggregate demand (AD) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34487/unit-322-variations-in-economic-activity-aggregate-supplyas" title="Unit 3.2(2): Variations in economic activity - aggregate supply(AS)">Unit 3.2(2): Variations in economic activity - aggregate supply(AS)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34758/unit-331-macroeconomic-objectives-economic-growth" title="Unit 3.3(1) Macroeconomic objectives: economic growth">Unit 3.3(1) Macroeconomic objectives: economic growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34771/unit-332-macroeconomic-objectives-unemployment-" title="Unit 3.3(2) Macroeconomic objectives: unemployment ">Unit 3.3(2) Macroeconomic objectives: unemployment </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34778/unit-333-macroeconomic-objectives-inflation-and-deflation-" title="Unit 3.3(3) Macroeconomic objectives: inflation and deflation ">Unit 3.3(3) Macroeconomic objectives: inflation and deflation </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34925/unit-341-economics-of-inequality-and-poverty" title="Unit 3.4(1) Economics of inequality and poverty">Unit 3.4(1) Economics of inequality and poverty</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34946/unit-342-policies-to-improve-equality-equity-and-poverty" title="Unit 3.4(2) Policies to improve equality, equity and poverty">Unit 3.4(2) Policies to improve equality, equity and poverty</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34993/unit-35-government-management-of-the-economy-monetary-policy" title="Unit 3.5 Government management of the economy – monetary policy">Unit 3.5 Government management of the economy – monetary policy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34962/unit-36-government-management-of-the-economy-fiscal-policy" title="Unit 3.6 Government management of the economy – fiscal policy">Unit 3.6 Government management of the economy – fiscal policy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35017/unit-371-market-based-supply-side-policies-" title="Unit 3.7(1) Market based supply-side policies ">Unit 3.7(1) Market based supply-side policies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35018/unit-372-interventionist-supply-side-policies-" title="Unit 3.7(2) Interventionist supply-side policies ">Unit 3.7(2) Interventionist supply-side policies </a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45803/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42639/measuring-economic-well-being" title="Measuring economic well-being">Measuring economic well-being</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43044/inflation" title="Inflation">Inflation</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42350/inequality" title="Inequality">Inequality</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41639/inequity" title="Inequity">Inequity</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35414/chapter-4-the-global-economy" title="Chapter 4: The Global Economy">Chapter 4: The Global Economy</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35346/unit-41-benefits-of-international-trade" title="Unit 4.1 Benefits of international trade">Unit 4.1 Benefits of international trade</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35348/unit-4243-trade-protectionism" title="Unit 4.2/4.3 Trade protectionism">Unit 4.2/4.3 Trade protectionism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35407/unit-44-economic-integration-" title="Unit 4.4 Economic integration ">Unit 4.4 Economic integration </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35409/unit-45-exchange-rates" title="Unit 4.5 Exchange rates">Unit 4.5 Exchange rates</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35413/unit-46-balance-of-payments-" title="Unit 4.6 Balance of payments ">Unit 4.6 Balance of payments </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35675/unit-47-sustainable-development" title="Unit 4.7 Sustainable development">Unit 4.7 Sustainable development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35685/unit-48-measuring-development-" title="Unit 4.8 Measuring development ">Unit 4.8 Measuring development </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35687/unit-49-barriers-to-economic-development" title="Unit 4.9 Barriers to economic development">Unit 4.9 Barriers to economic development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35702/unit-410-economic-growth-and-economic-development-strategies" title="Unit 4.10: Economic growth and economic development strategies">Unit 4.10: Economic growth and economic development strategies</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45804/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41927/foreign-currency" title="Foreign currency">Foreign currency</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43532/exchange-rates" title="Exchange rates">Exchange rates</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43804/balance-of-payments" title="Balance of payments">Balance of payments</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41796/economic-development" title="Economic development">Economic development</a></li></ul></ul></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/economics/page/20132/units-1-2-microeconomics" title="Units 1-2: Microeconomics">Units 1-2: Microeconomics</a></li><ul class="level-1 expanded"><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Unit 1: Introduction to economics">Unit 1: Introduction to economics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20091/introductory-activity" title="Introductory activity">Introductory activity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20093/unit-11-scarcity-choice-and-opportunity-cost" title="Unit 1.1: Scarcity, choice and opportunity cost">Unit 1.1: Scarcity, choice and opportunity cost</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21647/factors-of-production" title="Factors of production">Factors of production</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20114/economic-systems" title="Economic systems">Economic systems</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20134/public-and-private-sectors" title="Public and private sectors">Public and private sectors</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28055/unit-12-economics-as-a-social-science" title="Unit 1.2: Economics as a social science">Unit 1.2: Economics as a social science</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29921/circular-flow-of-national-income" title="Circular flow of national income">Circular flow of national income</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29829/unit-1-review-terms" title="Unit 1: Review terms">Unit 1: Review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41600/introduction-to-economics-crossword" title="Introduction to economics crossword">Introduction to economics crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/4331/unit-1-multiple-choice-quiz" title="Unit 1: Multiple choice quiz">Unit 1: Multiple choice quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20177/unit-21-23-competitive-markets-demand-and-supply" title="Unit 2.1-2.3: Competitive markets - demand and supply">Unit 2.1-2.3: Competitive markets - demand and supply</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28517/unit-21-demand" title="Unit 2.1: Demand">Unit 2.1: Demand</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22349/determinants-of-demand" title="Determinants of demand">Determinants of demand</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29949/unit-22-supply-" title="Unit 2.2: Supply ">Unit 2.2: Supply </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20184/changes-to-supply-and-demand-" title="Changes to supply and demand ">Changes to supply and demand </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21992/practise-exercises" title="Practise exercises">Practise exercises</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26112/gold-exchange-game-demand-and-supply" title="Gold exchange game: Demand and supply">Gold exchange game: Demand and supply</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20194/unit-23-competitive-market-equilibrium" title="Unit 2.3: Competitive market equilibrium">Unit 2.3: Competitive market equilibrium</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20144/producer-and-consumer-surplus" title="Producer and consumer surplus">Producer and consumer surplus</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22351/veblen-goods-and-super-luxury-goods" title="Veblen goods and super luxury goods">Veblen goods and super luxury goods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25677/are-cryptocurrencies-the-new-tulipmania" title="Are Cryptocurrencies the new Tulipmania?">Are Cryptocurrencies the new Tulipmania?</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20472/unit-21-23-multiple-choice-quiz" title="Unit 2.1-2.3: Multiple choice quiz">Unit 2.1-2.3: Multiple choice quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20113/unit-24-consumer-and-producer-behaviour-hl-only" title="Unit 2.4: Consumer and producer behaviour (HL only)">Unit 2.4: Consumer and producer behaviour (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36073/behavioural-economics-consumer-biases-nudge-theory-hl-only" title="Behavioural economics: Consumer biases / nudge theory (HL only)">Behavioural economics: Consumer biases / nudge theory (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20378/business-objectives-hl-only" title="Business objectives (HL only)">Business objectives (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28741/unit-21-24-review-terms-" title="Unit 2.1-2.4: Review terms ">Unit 2.1-2.4: Review terms </a></li></ul><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/economics/page/20195/unit-25-26-elasticity" title="Unit 2.5-2.6: Elasticity">Unit 2.5-2.6: Elasticity</a></li><ul class="level-2 expanded"><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28713/unit-25-price-elasticity-of-demand" title="Unit 2.5: Price elasticity of demand">Unit 2.5: Price elasticity of demand</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21545/determinants-of-price-elasticity-" title="Determinants of price elasticity ">Determinants of price elasticity </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21532/ped-elasticity-and-sales-revenue" title="PED elasticity and sales revenue?">PED elasticity and sales revenue?</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21259/unit-25-income-elasticity-of-demand-yed" title="Unit 2.5: Income elasticity of demand (YED)">Unit 2.5: Income elasticity of demand (YED)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21200/unit-26-price-elasticity-of-supply" title="Unit 2.6: Price elasticity of supply">Unit 2.6: Price elasticity of supply</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20207/perfectly-elastic-inelastic-supply-curves" title="Perfectly elastic / inelastic supply curves">Perfectly elastic / inelastic supply curves</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20230/a-mathematical-note-about-elasticity-" title="A mathematical note about elasticity ">A mathematical note about elasticity </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39037/demand-and-supply-crossword" title="Demand and supply crossword">Demand and supply crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29021/unit-25-26-review-terms" title="Unit 2.5-2.6: Review terms">Unit 2.5-2.6: Review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20474/unit-25-26-multiple-choice-quiz-" title="Unit 2.5-2.6: Multiple choice quiz ">Unit 2.5-2.6: Multiple choice quiz </a></li><li class="current" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44474/unit-21-25-competitive-markets-quiz" title="Unit 2.1- 2.5: Competitive markets quiz">Unit 2.1- 2.5: Competitive markets quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20243/unit-27-the-role-of-government-in-microeconomics-" title="Unit 2.7: The role of government in microeconomics ">Unit 2.7: The role of government in microeconomics </a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26590/indirect-taxation" title="Indirect taxation">Indirect taxation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20246/ped-and-the-burden-of-tax-hl-only-" title="PED and the burden of tax (HL only) ">PED and the burden of tax (HL only) </a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20277/government-subsidies-" title="Government subsidies ">Government subsidies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29117/unit-27-indirect-tax-and-subsidy-review-terms" title="Unit 2.7: Indirect tax and subsidy review terms">Unit 2.7: Indirect tax and subsidy review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20287/price-controls-maximum-price-" title="Price controls − maximum price ">Price controls − maximum price </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20288/minimum-price-" title="Minimum price ">Minimum price </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21540/minimum-wage-" title="Minimum wage ">Minimum wage </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/38849/labour-market-crossword" title="Labour market crossword">Labour market crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29260/unit-27-price-controls-review-terms" title="Unit 2.7: Price controls review terms">Unit 2.7: Price controls review terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20303/unit-28-210-market-failure-" title="Unit 2.8-2.10: Market failure ">Unit 2.8-2.10: Market failure </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21543/unit-28-merit-goods-" title="Unit 2.8: Merit goods ">Unit 2.8: Merit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/23123/unit-28-demerit-goods-negative-externalities" title="Unit 2.8: Demerit goods / negative externalities">Unit 2.8: Demerit goods / negative externalities</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/38850/market-failure-crossword" title="Market failure crossword">Market failure crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29262/unit-29-economics-of-the-environment-and-public-goods-" title="Unit 2.9: Economics of the environment and public goods ">Unit 2.9: Economics of the environment and public goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20332/unit-210-asymmetric-information-hl-only" title="Unit 2.10: Asymmetric information (HL only)">Unit 2.10: Asymmetric information (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29828/unit-28-210-market-failure-review-sheet" title="Unit 2.8-2.10: Market failure review sheet">Unit 2.8-2.10: Market failure review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29827/unit-28-210-market-failure-review-terms" title="Unit 2.8-2.10: Market failure review terms">Unit 2.8-2.10: Market failure review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20479/unit-27-210-multiple-choice-quiz-" title="Unit 2.7-2.10: Multiple choice quiz ">Unit 2.7-2.10: Multiple choice quiz </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44501/unit-27-210-government-failure-revision-quiz" title="Unit 2.7-2.10 Government failure revision quiz">Unit 2.7-2.10 Government failure revision quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20330/unit-211-market-power-hl-only" title="Unit 2.11: Market power (HL only)">Unit 2.11: Market power (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29835/assessment-map" title="Assessment map">Assessment map</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21528/production-hl-only" title="Production (HL only)">Production (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29978/revenue-theory-hl-only" title="Revenue theory (HL only)">Revenue theory (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20357/costs-of-production-hl-only" title="Costs of production (HL only)">Costs of production (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21286/economies-and-diseconomies-of-scale-hl-only" title="Economies and diseconomies of scale (HL only)">Economies and diseconomies of scale (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22494/long-run-average-cost-curves-hl-only" title="Long run average cost curves (HL only)">Long run average cost curves (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29838/breakeven-hl-only" title="Breakeven (HL only)">Breakeven (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20340/economic-profit-hl-only" title="Economic profit (HL only)">Economic profit (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39082/market-power-crossword" title="Market power crossword">Market power crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22495/revision-exercise-on-cost-and-revenue-hl-only" title="Revision exercise on cost and revenue (HL only)">Revision exercise on cost and revenue (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29845/unit-211-costs-revenue-and-profit-review-sheet-hl-only" title="Unit 2.11: Costs, revenue and profit review sheet (HL only)">Unit 2.11: Costs, revenue and profit review sheet (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44484/unit-211-multiple-choice-quiz-sl-units" title="Unit 2.11: Multiple choice quiz (SL units)">Unit 2.11: Multiple choice quiz (SL units)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29846/market-structures-hl-only" title="Market structures (HL only)">Market structures (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29981/perfect-competition-hl-only" title="Perfect competition (HL only)">Perfect competition (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/24486/profit-in-perfect-competition-hl-only" title="Profit in perfect competition (HL only)">Profit in perfect competition (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21302/efficiency-in-perfect-competition-hl-only" title="Efficiency in perfect competition (HL only)">Efficiency in perfect competition (HL only)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20430/monopoly-hl-only" title="Monopoly (HL only)">Monopoly (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/24529/profit-and-revenue-maximisation-in-monopoly-hl-only" title="Profit and revenue maximisation in monopoly (HL only)">Profit and revenue maximisation in monopoly (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21306/a-comparison-of-monopoly-and-perfect-competition-hl-only" title="A comparison of monopoly and perfect competition? (HL only)">A comparison of monopoly and perfect competition? (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20435/monopolistic-competition-hl-only" title="Monopolistic competition (HL only)">Monopolistic competition (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20436/oligopoly-hl-only" title="Oligopoly (HL only)">Oligopoly (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22310/game-theory-hl-only" title="Game theory (HL only)">Game theory (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29918/unit-211-market-structures-review-sheet-hl-only" title="Unit 2.11: Market structures review sheet (HL only)">Unit 2.11: Market structures review sheet (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32337/unit-211-diagram-revision-" title="Unit 2.11: Diagram revision ">Unit 2.11: Diagram revision </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20480/unit-211-multiple-choice-quiz-hl-only" title="Unit 2.11: Multiple choice quiz (HL only)">Unit 2.11: Multiple choice quiz (HL only)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32425/unit-212-the-markets-inability-to-achieve-equity-hl-only" title="Unit 2.12: The market’s inability to achieve equity (HL only)">Unit 2.12: The market’s inability to achieve equity (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21842/unit-3-macroeconomics-" title="Unit 3: Macroeconomics ">Unit 3: Macroeconomics </a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/3942/unit-31-measuring-economic-activity-and-illustrating-its-variati" title="Unit 3.1: Measuring economic activity and illustrating its variations">Unit 3.1: Measuring economic activity and illustrating its variations</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20558/calculating-national-income" title="Calculating national income">Calculating national income</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21297/gdp-gni-as-a-measure-of-living-standards" title="GDP / GNI as a measure of living standards">GDP / GNI as a measure of living standards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20567/national-income-statistics" title="National income statistics">National income statistics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21580/the-business-cycle" title="The business cycle">The business cycle</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29931/unit-31-economic-activity-review-sheet" title="Unit 3.1: Economic activity review sheet">Unit 3.1: Economic activity review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20592/unit-32-variations-in-economic-activityaggregate-demand-and-aggr" title="Unit 3.2: Variations in economic activity—aggregate demand and aggregate supply">Unit 3.2: Variations in economic activity—aggregate demand and aggregate supply</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29933/aggregate-demand-and-supply" title="Aggregate demand and supply">Aggregate demand and supply</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21582/components-of-aggregate-demand" title="Components of aggregate demand">Components of aggregate demand</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20634/equilibrium-in-macroeconomics-neo-classical-perspective" title="Equilibrium in macroeconomics (neo-classical perspective)">Equilibrium in macroeconomics (neo-classical perspective)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20439/equilibrium-in-macroeconomics-keynesian-perspective" title="Equilibrium in macroeconomics (keynesian perspective)">Equilibrium in macroeconomics (keynesian perspective)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21349/john-maynard-keynes" title="John Maynard Keynes">John Maynard Keynes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20650/keynesian-v-free-market-debate-" title="Keynesian v free market debate ">Keynesian v free market debate </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21342/changes-in-the-long-run-aggregate-supply" title="Changes in the long run aggregate supply">Changes in the long run aggregate supply</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30055/unit-32-aggregate-demand-and-supply-review-sheet" title="Unit 3.2: Aggregate demand and supply review sheet">Unit 3.2: Aggregate demand and supply review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20610/unit-35-and-36-demand-management-fiscal-and-monetary-policy" title="Unit 3.5 and 3.6: Demand management - fiscal and monetary policy">Unit 3.5 and 3.6: Demand management - fiscal and monetary policy</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30058/government-budget" title="Government budget">Government budget</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21585/fiscal-policy-" title="Fiscal policy ">Fiscal policy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21343/multiplier-hl-only" title="Multiplier (HL only)">Multiplier (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21795/monetary-policy-" title="Monetary policy ">Monetary policy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30071/independent-central-banks" title="Independent central banks">Independent central banks</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30083/unit-35-and-36-review-sheet" title="Unit 3.5 and 3.6 review sheet">Unit 3.5 and 3.6 review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20615/unit-37-supply-side-policies" title="Unit 3.7: Supply side policies">Unit 3.7: Supply side policies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20651/the-role-of-supply-side-policies" title="The role of supply side policies">The role of supply side policies</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20622/market-based-and-interventionist-supply-side-policies-" title="Market based and interventionist supply side policies ">Market based and interventionist supply side policies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39129/aggregate-demand-and-supply-crossword" title="Aggregate demand and supply crossword">Aggregate demand and supply crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30086/unit-37-review-sheet" title="Unit 3.7: Review sheet">Unit 3.7: Review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20755/unit-31-32-and-35-37-multiple-choice-quiz-" title="Unit 3.1-3.2 and 3.5-3.7: Multiple choice quiz ">Unit 3.1-3.2 and 3.5-3.7: Multiple choice quiz </a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44522/unit-31-32-and-35-37-revision-quiz" title="Unit 3.1-3.2 and 3.5-3.7: Revision quiz">Unit 3.1-3.2 and 3.5-3.7: Revision quiz</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20686/unit-33-macroeconomic-objectives" title="Unit 3.3: Macroeconomic objectives">Unit 3.3: Macroeconomic objectives</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30118/unemployment" title="Unemployment">Unemployment</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21351/types-of-unemployment" title="Types of unemployment?">Types of unemployment?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21593/equilibrium-unemployment-" title="Equilibrium unemployment ">Equilibrium unemployment </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21594/disequilibrium-unemployment" title="Disequilibrium unemployment">Disequilibrium unemployment</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30458/unemployment-review-sheet" title="Unemployment review sheet">Unemployment review sheet</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20713/inflation-" title="Inflation ">Inflation </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20712/measuring-inflation-hl-only" title="Measuring inflation (HL only)">Measuring inflation (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20685/costs-of-inflation-and-deflation" title="Costs of inflation and deflation">Costs of inflation and deflation</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30465/inflation-review-sheet" title="Inflation review sheet">Inflation review sheet</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20716/unemployment-v-inflation-trade-off-hl-only" title="Unemployment v inflation trade off (HL only)">Unemployment v inflation trade off (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39133/macroeconomic-objectives-crossword" title="Macroeconomic objectives crossword">Macroeconomic objectives crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44511/unit-33-macroeconomic-indicators-revision-quiz" title="Unit 3.3: Macroeconomic indicators revision quiz">Unit 3.3: Macroeconomic indicators revision quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20741/unit-34-economics-of-inequality-and-poverty" title="Unit 3.4: Economics of inequality and poverty">Unit 3.4: Economics of inequality and poverty</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32398/inequality" title="Inequality">Inequality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21356/the-role-of-spending-and-taxation-on-inequality-" title="The role of spending and taxation on inequality ">The role of spending and taxation on inequality </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21313/consequences-of-economic-growth" title="Consequences of economic growth">Consequences of economic growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30257/economic-growth-and-inequality-review-sheet" title="Economic growth and inequality review sheet">Economic growth and inequality review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20756/unit-33-34-multiple-choice-" title="Unit 3.3-3.4: Multiple choice ">Unit 3.3-3.4: Multiple choice </a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21844/unit-4-global-economy" title="Unit 4: Global economy">Unit 4: Global economy</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21367/unit-41-benefits-of-international-trade" title="Unit 4.1: Benefits of international trade">Unit 4.1: Benefits of international trade</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30529/benefits-of-international-trade" title="Benefits of international trade">Benefits of international trade</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20823/absolute-and-comparative-advantage-hl-only" title="Absolute and comparative advantage (HL only)">Absolute and comparative advantage (HL only)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20845/unit-42-43-trade-protection" title="Unit 4.2-4.3: Trade protection">Unit 4.2-4.3: Trade protection</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32419/barriers-to-trade-calculations-are-hl-only" title="Barriers to trade (calculations are HL only)">Barriers to trade (calculations are HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21610/case-study-on-tata-steel" title="Case study on Tata Steel">Case study on Tata Steel</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/23455/the-defence-industry" title="The Defence industry">The Defence industry</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30610/unit-41-43-review-sheet" title="Unit 4.1-4.3: Review sheet">Unit 4.1-4.3: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20894/unit-44-economic-integration-" title="Unit 4.4: Economic integration ">Unit 4.4: Economic integration </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30634/economic-integration-some-hl-tasks" title="Economic integration (some HL tasks)">Economic integration (some HL tasks)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20840/world-trade-organisation-wto" title="World trade organisation (WTO)">World trade organisation (WTO)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30635/unit-44-review-sheet" title="Unit 4.4: Review sheet">Unit 4.4: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20853/unit-45-exchange-rates" title="Unit 4.5: Exchange rates">Unit 4.5: Exchange rates</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30611/floating-exchange-rates" title="Floating exchange rates">Floating exchange rates</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/31824/fixed-managed-exchange-rate-systems-some-hl-tasks" title="Fixed / managed exchange rate systems (some HL tasks)">Fixed / managed exchange rate systems (some HL tasks)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21624/the-market-for-foreign-exchange" title="The market for foreign exchange">The market for foreign exchange</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30614/unit-45-review-sheet" title="Unit 4.5: Review sheet">Unit 4.5: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20859/unit-46-balance-of-payments" title="Unit 4.6: Balance of payments">Unit 4.6: Balance of payments</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30624/balance-of-payments-" title="Balance of payments ">Balance of payments </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21386/current-account-hl-only" title="Current account (HL only)">Current account (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20872/the-marshall-lerner-condition-j-curve-hl-only" title="The Marshall-Lerner condition / J curve (HL only)">The Marshall-Lerner condition / J curve (HL only)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20899/units-41-46-multiple-choice-quiz-" title="Units 4.1-4.6: Multiple choice quiz ">Units 4.1-4.6: Multiple choice quiz </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42989/unit-41-46-multiple-choice-quiz-ii" title="Unit 4.1-4.6: Multiple choice quiz II">Unit 4.1-4.6: Multiple choice quiz II</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39438/unit-41-46-international-trade-crossword" title="Unit 4.1-4.6: International trade crossword">Unit 4.1-4.6: International trade crossword</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32423/unit-47-sustainable-development-" title="Unit 4.7: Sustainable development ">Unit 4.7: Sustainable development </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26092/water-scarcity-activity" title="Water scarcity activity">Water scarcity activity</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32426/sustainable-development" title="Sustainable development">Sustainable development</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20928/unit-48-measuring-development-" title="Unit 4.8: Measuring development ">Unit 4.8: Measuring development </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30686/measuring-development" title="Measuring development">Measuring development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21627/economic-development-" title="Economic development ">Economic development </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30679/unit-47-48-review-sheet" title="Unit 4.7-4.8: Review sheet">Unit 4.7-4.8: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Unit 4.9: Barriers to development">Unit 4.9: Barriers to development</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30727/barriers-to-development-in-international-trade" title="Barriers to development in International trade">Barriers to development in International trade</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32430/unit-410-economic-growth-andor-economic-development-strategies" title="Unit 4.10: Economic growth and/or economic development strategies">Unit 4.10: Economic growth and/or economic development strategies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30687/the-role-of-domestic-factors" title="The role of domestic factors">The role of domestic factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30688/the-role-of-international-trade-and-development" title="The role of international trade and development">The role of international trade and development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30689/the-role-of-foreign-direct-investment-fdi" title="The role of foreign direct investment (FDI)">The role of foreign direct investment (FDI)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25240/the-role-of-foreign-aid-" title="The role of foreign aid ">The role of foreign aid </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30819/multilateral-development-assistance" title="Multilateral development assistance">Multilateral development assistance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21632/the-role-of-international-debt" title="The role of international debt">The role of international debt</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25242/the-balance-between-markets-and-intervention" title="The balance between markets and intervention">The balance between markets and intervention</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30926/unit-49-410-review-sheet" title="Unit 4.9 - 4.10: Review sheet">Unit 4.9 - 4.10: Review sheet</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21380/assessment" title="Assessment">Assessment</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Internal assessment ">Internal assessment </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20608/how-to-write-your-ia-student-handout" title="How to write your IA? (student handout)">How to write your IA? (student handout)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21428/how-to-interpret-the-assessment-criteria" title="How to interpret the assessment criteria?">How to interpret the assessment criteria?</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Grading practise ">Grading practise </a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Sample 3a">Sample 3a</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32083/sample-3b" title="Sample 3b">Sample 3b</a></li></ul></ul></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32022/assessment-markbands" title="Assessment markbands">Assessment markbands</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/4332/exam-style-questions" title="Exam style questions">Exam style questions</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 style examination questions">Paper 1 style examination questions</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/40100/unit-211-212-questions" title="Unit 2.11-2.12 questions">Unit 2.11-2.12 questions</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45102/paper-1-guidance-on-essay-writing" title="Paper 1 guidance on essay writing">Paper 1 guidance on essay writing</a></li></ul></ul></nav> </div> </div> </div> </div><div style="margin-top: 20px;"><style type="text/css">
.studyib-link {
display: inline-block;
overflow: hidden;
font-size: 1.2em;
font-weight: normal;
margin: 10px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-link {
font-size: 1em;
font-weight: normal;
margin: 5px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-advert h2 {
font-size: 1.35em;
}
.studyib-link:hover {
transform: scale(1.2);
}
.studyib-link > img {
width: 2em; height: 2em;
margin: 0;
float: left;
}
.embed-responsive {
position: relative;
display: block;
height: 0;
padding: 0;
margin: 15px 0;
}
.embed-responsive-16by9 {
padding-bottom: 56.25%;
}
.embed-responsive iframe {
position: absolute;
top: 0;
left: 0;
bottom: 0;
height: 100%;
width: 100%;
border: 0;
}
.studyib-advert {
padding: 20px;
background: #E7EDF5;
border: solid 1px #EFF;
/* margin-left: 70px; */
}
.studyib-advert .heading {
display: flex;
flex-direction: row;
align-items: center;
}
.studyib-advert .heading img {
margin-right: 15px;
}
.studyib-advert .heading span {
color: #444
}
.studyib-advert h2,
.studyib-advert h3 {
margin: 0;
}
.studyib-advert .body {
margin-top: 20px;
}
</style>
<div class="studyib-advert">
<div class="heading">
<img src="https://assets.inthinking.net/thinkib/header-thinker-sib.svg" height="50" width="50" class="pull-left" alt="InThinking Revision Sites">
<div>
<h2>INTHINKING REVISION SITES</h2>
<span><em>Own your learning</em></span>
</div>
</div>
<div class="body">
<p>Why not also try our independent learning self-study & revision websites for students?</p>
<p>We currenly offer the following DP Sites: Biology, Chemistry, English A Lang & Lit, Maths A&A, Maths A&I, Physics, Spanish B</p>
<p>
<em>"The site is great for revising the basic understandings of each topic quickly.
Especially since you are able to test yourself at the end of each page and easily see where yo need to improve."</em>
</p>
<p><em>"It is life saving... I am passing IB because of this site!"</em></p>
<p>Basic (limited access) subscriptions are FREE. Check them out at:</p>
<div class="text-center">
<h3>
<a href="//studyib.net">www.StudyIB.net</a>
</h3>
</div>
</div>
</div>
</div></div><!-- /#left-column-->
<div id="main-column" class="span9"> <article id="unit-21-25-competitive-markets-quiz" style="margin-top: 16px;">
<h1 class="section-title">Unit 2.1- 2.5: Competitive markets quiz</h1>
<ul class="breadcrumb"><li><a title="Home" href="https://www.student.thinkib.net/economics"><i class="fa fa-home"></i></a><span class="divider">/</span></li><li><span class="gray">Units 1-2: Microeconomics</span><span class="divider">/</span></li><li><a title="Go to: Unit 2.5-2.6: Elasticity" href="https://www.student.thinkib.net/economics/page/20195/unit-25-26-elasticity">Unit 2.5-2.6: Elasticity</a><span class="divider">/</span></li><li><span class="active">Unit 2.1- 2.5: Competitive markets quiz</span></li></ul>
<div class="row-fluid">
<section class="span12" id="main-content">
<div class="tib-quiz" data-quiz-id="3748" data-structure="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" data-score-answers="6d4a526a457a48584f763758344a7649472f76324c53614b78524c393439595570496d5a5971374b38686f3d"><div class="exercise"><div class="q-question"><p>1. A demand curve shows:</p></div><div class="q-answer"><p><label class="radio" data-answer="5c08a31e4a4ae261d52260eef0d97239"><input type="radio" /><span> How sensitive demand is to a change in price?</span></label></p><p><label class="radio" data-answer="c3d366aaa37c086ccd4b557936da0452"><input type="radio" /><span> How much is demanded at a price?</span></label></p><p><label class="radio" data-answer="6dbbf5d810fc1127277857244c760193"><input type="radio" /><span> How much is sold at each price?</span></label></p><p><label class="radio" data-answer="4b6fc46529206774f49608a30ce20126"><input type="radio" /><span> How much would be demanded at different prices?</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>2. Movement along a demand curve to the left to a new equilibrium position could have been caused by:</p></div><div class="q-answer"><p><label class="radio" data-answer="1704d228e36512575892541e7fb0e57f"><input type="radio" /><span> An increase in the price elasticity of demand</span></label></p><p><label class="radio" data-answer="33eb7eb74d31b8130d7b98635120f186"><input type="radio" /><span> A shift to the right in the supply curve</span></label></p><p><label class="radio" data-answer="ba4cf2d23e31ffb3dd46002e572459c6"><input type="radio" /><span> An increase in the price of a substitute product</span></label></p><p><label class="radio" data-answer="97d4dcd0949073bd883fde4c47c8ce03"><input type="radio" /><span> A tax imposed on a good</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>3. A shift in a demand curve occurs when:</p></div><div class="q-answer"><p><label class="radio" data-answer="286317e8af443604d3461460e2854587"><input type="radio" /><span> There is an increase in a firm's cost</span></label></p><p><label class="radio" data-answer="8c0aa7f0634120490350df7fd762dfa9"><input type="radio" /><span> There is a change in price</span></label></p><p><label class="radio" data-answer="330265efeac01d6b112553cba35df31d"><input type="radio" /><span> There is a change in income</span></label></p><p><label class="radio" data-answer="aef053dfd5a80d76ab2205cc41433220"><input type="radio" /><span> Firms become more efficient</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>4. A car dealership reduces the price of a new model from £15,000 to £13,500. As a result, the quantity demanded rises from 25 units a week to 30 units a week. The price elasticity of demand is:</p></div><div class="q-answer"><p><label class="radio" data-answer="f3cf46f4625e78fb207858740b5a3643"><input type="radio" /><span> -2.0</span></label></p><p><label class="radio" data-answer="7a09122266225d4e9d9ec42fedbca967"><input type="radio" /><span> -1.5</span></label></p><p><label class="radio" data-answer="47b59b4bc99c9a3f12af51a5a35dc013"><input type="radio" /><span> -0.67</span></label></p><p><label class="radio" data-answer="eb2f51fc41e130c38f4bd6fb26c71cfa"><input type="radio" /><span> -1.3</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>5. When incomes rise by 2%, demand for UK holidays rises by 4%. The income elasticity of demand is:</p></div><div class="q-answer"><p><label class="radio" data-answer="d310cb367d993fb6fb584b198a2fd72c"><input type="radio" /><span> 0.5</span></label></p><p><label class="radio" data-answer="57eeec0a6974ecb4e9fcf68fab052f7b"><input type="radio" /><span> 0.8</span></label></p><p><label class="radio" data-answer="98f13708210194c475687be6106a3b84"><input type="radio" /><span> 20</span></label></p><p><label class="radio" data-answer="c81e728d9d4c2f636f067f89cc14862c"><input type="radio" /><span> 2</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>6. A normal good is one where:</p></div><div class="q-answer"><p><label class="radio" data-answer="f64672d0f6d9b092fce26919f21d490b"><input type="radio" /><span> Demand increases when income increases</span></label></p><p><label class="radio" data-answer="82996e4c8531deb8fe99fb4268cebf6f"><input type="radio" /><span> Demand falls when prices rise</span></label></p><p><label class="radio" data-answer="d8701a9fc527c75a2ab29ab4f6aa24f6"><input type="radio" /><span> Demand changes in proportion to changes in income</span></label></p><p><label class="radio" data-answer="57c67a0b42a30204181498d92301cdd1"><input type="radio" /><span> Demand rises when income falls</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>7. If the price elasticity of supply for a product is 3.5, then we can conclude that:</p></div><div class="q-answer"><p><label class="radio" data-answer="a504d881e0e88352147db2607d12431f"><input type="radio" /><span> The product is likely to be a manufactured good </span></label></p><p><label class="radio" data-answer="550bb4014ba3eba8bfedcf37b2e6283f"><input type="radio" /><span> The product is likely to be an agricultural or primary good</span></label></p><p><label class="radio" data-answer="7b014c0f11cfec9e97cbc74c452692f3"><input type="radio" /><span> The product has few close substitutes</span></label></p><p><label class="radio" data-answer="6db23d54f6d27673fb8c4f85e7a1f33e"><input type="radio" /><span> The product is likely to be a luxury good or service</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="exercise"><div class="q-question"><p>8. When demand for a product is price elastic, a decrease in price lead to:</p></div><div class="q-answer"><p><label class="radio" data-answer="092b453c2f54816abf59b6fbea787687"><input type="radio" /><span> Higher demand for the good or service</span></label></p><p><label class="radio" data-answer="6748f5934cd0b3cf1080ffabd82cab92"><input type="radio" /><span> An increase in revenue for the producer</span></label></p><p><label class="radio" data-answer="23c93e0ef66c26a2e9c3bcf725b38f69"><input type="radio" /><span> No change in revenue for the producer</span></label></p><p><label class="radio" data-answer="e5b571f2b966bd724fb6ce526af9e019"><input type="radio" /><span> A fall in revenue for the producer</span></label></p></div><div class="q-explanation"><p>D is incorrect because this would cause a rise in quantity demanded, not demand</p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>9. The price elasticity of demand for a firm’s products will change when a business:</p></div><div class="q-answer"><p><label class="radio" data-answer="80e6a4f3ab5067c5f7a1fc30e6c93e24"><input type="radio" /><span> Benefits from a general increase in incomes</span></label></p><p><label class="radio" data-answer="98cb0f6f913bbf08f7e7c2391c7e32ad"><input type="radio" /><span> Manages to reduce its costs</span></label></p><p><label class="radio" data-answer="8dac5e4827744eb0ed580b5ea05b73e7"><input type="radio" /><span> Experiences a rise in production costs</span></label></p><p><label class="radio" data-answer="3b828fd9cc4fb640cf48c57df1a31875"><input type="radio" /><span> Is faced with a new competitor</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>10. Which one of the following would cause an increase in the quantity supplied (also known as an extension of supply) of cars?</p></div><div class="q-answer"><p><label class="radio" data-answer="7eb1ab9f332daa44c16345a341d77cb9"><input type="radio" /><span> A rise in the cost of electricity</span></label></p><p><label class="radio" data-answer="8c81b6f990d18b8eed24dca21787f51f"><input type="radio" /><span> A rise in interest rates on business loans</span></label></p><p><label class="radio" data-answer="0ee5452a4e15d7270c3cfca9049b5bcc"><input type="radio" /><span> A reduction in the cost of labour employed in car production</span></label></p><p><label class="radio" data-answer="3dec4d0c121aff885fbbee1fe27cc2d9"><input type="radio" /><span> An increase in the demand for cars</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>11. Movement along a supply curve to the right arises because of:</p></div><div class="q-answer"><p><label class="radio" data-answer="730002b5251f8754471821961aa72d2e"><input type="radio" /><span> Improvement in business efficiency</span></label></p><p><label class="radio" data-answer="734eeca42a1743fa03c5dcf9e2497ecf"><input type="radio" /><span> A fall in price</span></label></p><p><label class="radio" data-answer="b5721b67ab340453a86896fc64c9902c"><input type="radio" /><span> An increase in tax</span></label></p><p><label class="radio" data-answer="2800a78bf25ab978b8300f9acba433c2"><input type="radio" /><span> An increase in price</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>12. The supply of a luxury car brand falls, this could have been caused by:</p></div><div class="q-answer"><p><label class="radio" data-answer="33d44b0a364068f5aeed1510d50b3b19"><input type="radio" /><span> The government has imposed a special tax on luxury cars</span></label></p><p><label class="radio" data-answer="6c3e1d951ed09ec0404041702f51d22f"><input type="radio" /><span> Production costs have fallen</span></label></p><p><label class="radio" data-answer="60ab6ed02cbfc4f0e7a492afe5485969"><input type="radio" /><span> The price has risen</span></label></p><p><label class="radio" data-answer="3a8aab8fc0a9bc3a0f037b33eb718f93"><input type="radio" /><span> There was a decrease in the price of petrol</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>13. A rise in price from £21 to £22 leads to a 5% rise in the quantity supplied. To two decimal place</p><p>price elasticity of supply is:</p></div><div class="q-answer"><p><label class="radio" data-answer="efac2e7ba71622c7fb40b2e936fa68d6"><input type="radio" /><span> -1.05</span></label></p><p><label class="radio" data-answer="c7522ce359dcd5a0ebdaeb22a34f6b89"><input type="radio" /><span> 1.05</span></label></p><p><label class="radio" data-answer="08f9bee8cda0776f2541abc9af6bde5d"><input type="radio" /><span> 2.52</span></label></p><p><label class="radio" data-answer="e71c851ac8c801bd47466c6e1d783f14"><input type="radio" /><span> -1.52</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>14. Supply in agriculture is typically price inelastic because:</p></div><div class="q-answer"><p><label class="radio" data-answer="6eb3ac9162ba4fa88802249a40c7931a"><input type="radio" /><span> Farmers rely on the weather</span></label></p><p><label class="radio" data-answer="4504aad2468d3d447b2bb2dce0178a10"><input type="radio" /><span> Farmers can use stocks in response to changes in price</span></label></p><p><label class="radio" data-answer="ddf98b5b1dccde2508e6fcd3c89fb637"><input type="radio" /><span> There are few substitutes for food</span></label></p><p><label class="radio" data-answer="6a2e041f2567b5dcc35f22cbc01a616f"><input type="radio" /><span> Farmers cannot alter output at short notice</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>15. The table below shows the market for takeaway pizza:</p><table style="width: 100%;"><tbody><tr><td style="text-align: center;"><strong>Price per pizza $</strong></td><td style="text-align: center;"><strong>Quantity demanded per week</strong></td><td style="text-align: center;"><strong>Quantity supplied per week</strong></td></tr><tr><td style="text-align: center;">3</td><td style="text-align: center;">350</td><td style="text-align: center;">510</td></tr><tr><td style="text-align: center;">2.75</td><td style="text-align: center;">400</td><td style="text-align: center;">480</td></tr><tr><td style="text-align: center;">2.50</td><td style="text-align: center;">450</td><td style="text-align: center;">450</td></tr><tr><td style="text-align: center;">2.25</td><td style="text-align: center;">500</td><td style="text-align: center;">420</td></tr></tbody></table><p>Following a rise in production costs, supply falls by 80 pizzas at all prices. The new equilibrium price would be</p></div><div class="q-answer"><p><label class="radio" data-answer="5b690adcbf7fdb0f1d047bb6ec97c29f"><input type="radio" /><span> <dollar>$</dollar>2.50</span></label></p><p><label class="radio" data-answer="6600489385e749687c3086b5d9810707"><input type="radio" /><span> <dollar>$</dollar>2.25</span></label></p><p><label class="radio" data-answer="03304911a1410ead9664ba32e6718565"><input type="radio" /><span> <dollar>$</dollar>3.00</span></label></p><p><label class="radio" data-answer="01bfe698c68f30f27d88ac2f1a28a9db"><input type="radio" /><span> <dollar>$</dollar>2.75</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>16. An equilibrium price for a product is certain to rise when:</p></div><div class="q-answer"><p><label class="radio" data-answer="f8365644ebf3828be49596aa9830a3dd"><input type="radio" /><span> Incomes rise and supply is perfectly inelastic.</span></label></p><p><label class="radio" data-answer="e9d2f0ca517351c93d3c512337fba20b"><input type="radio" /><span> Demand is perfectly inelastic and technology improves production efficiency</span></label></p><p><label class="radio" data-answer="1417bf54f56b4c2a8f5908603a629f91"><input type="radio" /><span> Supply and demand are both perfectly inelastic</span></label></p><p><label class="radio" data-answer="7bae19f71d26dcd8779291e5197c9c62"><input type="radio" /><span> Business costs rise and the price of a substitute falls</span></label></p><p> </p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>17. A market is said to be in equilibrium when:</p></div><div class="q-answer"><p><label class="radio" data-answer="6c852650eb634dfb97d3135d4cfca53f"><input type="radio" /><span> There are no external costs or benefits associated with either consumption or production</span></label></p><p><label class="radio" data-answer="8c825782834c874be9a7773e2c1c978f"><input type="radio" /><span> The price of a product equals its quantity</span></label></p><p><label class="radio" data-answer="1a3baf87baa6c23c398a517284a1b5fa"><input type="radio" /><span> There is neither excess demand nor excess supply</span></label></p><p><label class="radio" data-answer="70c5b94427a30bb71fc85d2078100c17"><input type="radio" /><span> Output is distributed evenly across the population</span></label></p><p> </p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>18. Which one of the following best describes a state of market disequilibrium? Market disequilibrium:</p></div><div class="q-answer"><p><label class="radio" data-answer="c7bd04123ef9477d21dd41772835caad"><input type="radio" /><span> Always results in reduction in the quantity sold</span></label></p><p><label class="radio" data-answer="a9107b9045d1a3c62c76494b365aeb2b"><input type="radio" /><span> Always results in upward pressure on prices</span></label></p><p><label class="radio" data-answer="d0bb59189a42eaf877fd063fe5657fe9"><input type="radio" /><span> Occurs when the amount bought is more (or less) than the amount sold</span></label></p><p><label class="radio" data-answer="7e6bb604c1b5178044f32ca7888e5d8f"><input type="radio" /><span> Occurs when planned demand is not the same as planned supply</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>19. Coffee and tea are both agricultural products. Which of the following statements are true:</p></div><div class="q-answer"><p><label class="radio" data-answer="ec22d9deccf92d28d04bd3fd5f7388a7"><input type="radio" /><span> Supply is price inelastic but demand elastic</span></label></p><p><label class="radio" data-answer="6b079553fa816991f93cd2fbb041d28f"><input type="radio" /><span> Both supply and demand are price inelastic</span></label></p><p><label class="radio" data-answer="fd1f4bfa646d0d665774431e3ed9e7cd"><input type="radio" /><span> Both supply and demand are price elastic</span></label></p><p><label class="radio" data-answer="341ec4db96f426002818a45c0a4968ee"><input type="radio" /><span> Supply is price elastic but demand inelastic</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><div class="exercise"><div class="q-question"><p>20. The motor industry uses steel to make cars. This relationship is an example of products in:</p></div><div class="q-answer"><p><label class="radio" data-answer="4ffb7eb00dca40dfc3d8a889d4821970"><input type="radio" /><span> Competitive demand</span></label></p><p><label class="radio" data-answer="6621a96c2cf744e744c80d52473f8360"><input type="radio" /><span> Joint supply</span></label></p><p><label class="radio" data-answer="6a8eeab49e2312cf77406a1e6cca828b"><input type="radio" /><span> Substitute demand</span></label></p><p><label class="radio" data-answer="220e1364cb08aae59e75cdd4d6e4d403"><input type="radio" /><span> Derived demand</span></label></p></div><div class="q-explanation"><p> </p></div><div class="actions"><span class="score" data-score="0"></span><button class="btn check"><i class="fa fa-check-square-o"></i> Check</button></div></div><p> </p><div class="totals"><span class="score">Total Score: </span><button class="btn btn-success check-total"><i class="fa fa-check-square-o"></i> Check</button></div></div><hr><p>The quiz can be downloaded at the following link: <a href="/media/ib/economics/files/micro-economics/unit-2.1-2.5-mcq.pdf" target="_blank" title="Key study"><img class="ico" src="https://assets.inthinking.net/thinkib/icons/key-study.png" /> Competitive markets quiz</a></p><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
</section>
</div>
</article>
</div><!-- /#main-column -->
</div>
</div><!-- /#content -->
</div>
</div>
<div id="footer" class="student-access">
<div class="wmap">
<div class="layout-wrapper">
<p>
© <script>document.write(new Date().getFullYear())</script> <em>InThinking</em>
|
<a target="_self" href="https://thinkib.net/subscribe/about-us">
About us
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/legal">
Legal
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/contact">
Contact
</a>
</p>
<p>
<a class="social" target="_blank" href="https://twitter.com/#!/inthinker">
<img src="https://assets.inthinking.net/social/twitter-square.svg"> Twitter
</a>
<a class="social" target="_blank" href="https://www.facebook.com/inthinking.net">
<img src="https://assets.inthinking.net/social/facebook-square.svg"> Facebook
</a>
<a class="social" target="_blank" href="https://www.linkedin.com/company/9s4we1">
<img src="https://assets.inthinking.net/social/linkedin-square.svg"> LinkedIn
</a>
</p>
</div>
</div>
</div>
<input id="tzoffset" type="hidden" value="-7200" /><div id="modal-session-expired" class="modal fade" tabindex="-1" role="dialog" data-backdrop="static" data-keyboard="false">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 style="margin-top: 0">Your session has expired</h3>
</div>
<div class="modal-body" style="padding: 10px;">
<p>You will have to reload and log in again.</p>
</div>
<div class="modal-footer">
<a id="session-expired" class="btn btn-danger pull-right" href="#">
<i class="fa fa-refresh"></i> Reload
</a>
</div>
</div>
</div>
</div>
<!-- Loading scripts at the end of the body means faster page loading -->
<script src="/js/jquery-1.10.2.min.js"></script>
<script src="js/bootstrap.min.js"></script>
<script type="text/javascript" src="js/jq-fancybox/jquery.fancybox.pack.js"></script>
<script src="/js/sidemenu/sidemenu.min.js?v=202011301145"></script><script src="/js/std-access/std-assignments-utils.min.js?v=202305221900"></script><script src="/js/std-access/std-comments-utils.min.js?v=202305221900"></script><script src="/js/std/std-task-utils.min.js?v=202305221900"></script><script src="/js/jq-mark.js/jquery.mark.min.js"></script><!-- MathJax only to render Math ML -->
<!--<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=TeX-AMS-MML_HTMLorMML"></script>-->
<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=MML_HTMLorMML"></script>
<style>
.math-tex {
font-size: 1.15em !important;
}
.math-tex span.ML__text {
/*font-family: inherit !important;*/
}
.ML__text + .ML__mathit {
margin-left: 0 !important;
}
.math-tex img, .math-tex + img, span img {
box-shadow: none;
margin: 0;
}
body {
--keycap-height: 39px;
--keycap-font-size: 16px;
--keycap-shift-font-size: 9px;
--keycap-small-font-size: 9px;
--keycap-extra-small-font-size: 9px;
--keyboard-toolbar-font-size: 16px;
--keycap-gap: 1px;
}
</style>
<script src="https://unpkg.com/mathlive/dist/mathlive.min.js" async defer></script>
<script src="https://unpkg.com/@cortex-js/compute-engine" async defer></script>
<script type="text/javascript" src="/js/cortexjs-utils.min.js?v=20230810"></script>
<script>
window.addEventListener('load',
() => MathLive.renderMathInDocument()
);
</script>
<script>var isStudent = true;var siteName = "economics";</script><script type="text/javascript" src="/js/tib-quizzes-utils.min.js?v=20230810"></script>
<script>function af51a7c50359d87e3(gradeQuiz) {
var url = '/pages/quizzes/get-structure.php',
data = {
'ticket' : $('#ticket').val(),
'data-structure': gradeQuiz.dataStructure,
'score-answers' : gradeQuiz.scoreAnswers,
'std-answers' : gradeQuiz.stdAnswers,
'n-question' : gradeQuiz.nQuestion,
'std-task-id' : gradeQuiz.taskStdId,
'quiz-seconds' : gradeQuiz.quizSeconds,
'is-exam' : gradeQuiz.isExam,
'student-ID' : typeof studentID !== 'undefined' ? studentID : '',
'task-ID' : $('#task-ID').length ? $('#task-ID').val() : '',
'chk-correctness': gradeQuiz.button.data('chk-correctness') ? '1' : '0'
};
$.post(url, data, 'json').done(function(response){
var r = JSON.parse(response);
if (r.success == 1) {
if (gradeQuiz.checkTotal) {
logQuiz(gradeQuiz.button, gradeQuiz.quiz, r, gradeQuiz.notRequired);
} else {
// Check single exercise both from teacher and student side
if (!r.ss || !r.sa) {
alert('You cannot do this task again until after the deadline');
return false;
}
var logger = {};
var mScoreMark = checkExercise(gradeQuiz.exercise, r, gradeQuiz.nQuestion);
//Only needed on Student Access: one by one question log
if (typeof quizLogger === 'function') {
logger = quizLogger(gradeQuiz.quiz, mScoreMark, false);
}
//Only needed on Student Access
if (typeof saveQuizLog === 'function' && !$.isEmptyObject(logger)) {
saveQuizLog(logger, 10, 0);
}
gradeQuiz.button.remove();
}
}
if (r.success == 2) {
sendLogs = false;
// Show score only if allowed to show it
if (r.ss) {
var totalScore = r.score;
var totalMark = r.mark;
var scoreContainer = $('a.check-total').closest('.totals').find('span.score');
if (totalScore == 100) { scoreContainer.addClass('A'); }
else if (totalScore > 70) { scoreContainer.addClass('B'); }
else if (totalScore > 50) { scoreContainer.addClass('C'); }
else if (totalScore > 30) { scoreContainer.addClass('D'); }
else { scoreContainer.addClass('E'); }
scoreContainer.append('<strong>'+ totalMark +'</strong> <small style="opacity: .8">('+ totalScore +'%)</small>');
} else {
$('#quiz-checker').find('.score-container').remove();
}
$('#task-completed-badge').show();
$("html, body").animate({ scrollTop: $('#task-completed-badge').position().top });
controlExamInCombinedTask();
gradeQuiz.button.remove();
}
if (r.success == 0) {
alert(r.msg);
}
});
}
$(document).ready(function(){
if (!$('#ticket').length) {
var inputTicket = '<input type="hidden" id="ticket" value="fd6a5e8a06cfccf2">';
$('body').append(inputTicket);
}
$('section').on('click', '.tib-quiz #save-quiz-progress', function(e) {
e.preventDefault();
let button = $(this);
button.html("<i class=\"fa fa-fw fa-spinner fa-spin colored\"></i> Saving...");
setTimeout(function() {
button.html("<i class=\"fa fa-fw fa-check colored\"></i> Saved!");
}, 2000);
setTimeout(function() {
button.html("<i class=\"fa fa-fw fa-save\"></i> Save progress");
}, 4500);
});
/**
* Quiz final green CHECK button
*/
$('section').on('click', '.tib-quiz .check-total', function(e) {
e.preventDefault();
var body = $('body');
var button = $(this);
var quiz = $(this).closest('.tib-quiz');
var dataStructure = quiz.attr('data-structure');
var scoreAnswers = quiz.attr('data-score-answers');
var notRequired = false;
var taskID = $('#task-ID').length ? $('#task-ID').val() : '';
var taskStdId = $('#std-task-id').length ? $('#std-task-id').val() : '';
//Only for combined tasks
if (typeof button.attr('data-task-id') !== 'undefined') {
var taskID = button.attr('data-task-id');
$('#task-ID').val(taskID);
}
if (typeof button.attr('data-combined-task-required') !== 'undefined' && button.attr('data-combined-task-required') === 'short-answer') {
notRequired = true;
}
if (typeof scoreAnswers == 'undefined') {
scoreAnswers = null;
}
var quizSeconds = '';
if (typeof amountSecs != 'undefined') {
quizSeconds = amountSecs;
}
var isExam = false;
if (typeof examTime != 'undefined') {
isExam = true;
}
body.css('cursor', 'wait');
// Remove grade-by-question 'save progress' button
if ($('#save-quiz-progress').length) {
$('#save-quiz-progress').remove();
}
$.when(
// Collect the std answers
checkAllExercises(quiz)
).then(
function(stdAnswers) {
var gradeQuiz = {
button: button,
quiz: quiz,
dataStructure: dataStructure,
scoreAnswers: scoreAnswers,
stdAnswers: stdAnswers,
checkTotal: true,
nQuestion: null,
exercise: null,
notRequired: notRequired,
taskStdId: taskStdId,
quizSeconds: quizSeconds,
isExam: isExam
};
af51a7c50359d87e3(gradeQuiz);
body.css('cursor', 'default');
// Was the task already submitted time ago
if( $('#task-completed-badge').hasClass('already-submitted')) {
$('#task-completed-badge').show();
$('#return-my-tasks-q').show();
$("html, body").animate({ scrollTop: $('#task-completed-badge').position().top });
}
}
);
});
/**
* Quiz exercise individual CHECK button
*/
$('section').on('click', '.exercise .btn.check', function(e) {
e.preventDefault();
var body = $('body');
var button = $(this);
var exercise = button.closest('div.exercise');
var quiz = $(this).closest('.tib-quiz');
var dataStructure = quiz.attr('data-structure');
var scoreAnswers = quiz.attr('data-score-answers');
var nQuestion = 0;
//Only for combined tasks
if (typeof $('.check-total').attr('data-task-id') !== 'undefined') {
var taskID = $('.check-total').attr('data-task-id');
$('#task-ID').val(taskID);
}
if (typeof scoreAnswers == 'undefined') {
scoreAnswers = null;
}
var gradeQuiz = {
button: button,
quiz: quiz,
dataStructure: dataStructure,
scoreAnswers: scoreAnswers,
checkTotal: false,
nQuestion: nQuestion,
exercise: exercise,
notRequired: false,
};
body.css('cursor', 'wait');
quiz.find('.exercise').each(function(){
if ($(this)[0] == exercise[0]) {
$(this).find('.q-answer').find('input').attr('disabled', true);
if (quiz.find('.exercise .btn.check').length === 1) {
quiz.find('.check-total').trigger('click');
return;
}
gradeQuiz['nQuestion'] = nQuestion;
af51a7c50359d87e3(gradeQuiz);
body.css('cursor', 'default');
}
nQuestion++;
});
});
/**
* Quiz exercise individual RESET button
*/
$('section').on('click', '.exercise .btn.reset', function(e) {
e.preventDefault();
var btn_reset = $(this);
var exercise = $(this).closest('div.exercise');
var quiz = $(this).closest('.tib-quiz');
var url = '/pages/quizzes/get-self-study-question.php',
data = {
'ticket' : $('#ticket').val(),
'question-id' : exercise.data('id') ? exercise.data('id') : null
};
btn_reset.html('<i class="fa fa-spinner fa-spin"></i> Reset ');
$.post(url, data, function(response)
{
if(response['success'] == '1') {
var question = $('<div />').html( response['html'] );
if (question.find('div.exercise').length === 1) {
$.when(
exercise.html(question.find('div.exercise')[0].innerHTML)
).then(
tibQuiz(quiz),
limitMultipleChoiceAnswers(exercise),
dragOver(),
dragLeave(),
drop(),
bindDraggables(),
alertMaxCorrectAnswers(quiz),
addLettersBeforeOptions(false, exercise),
MathLive.renderMathInDocument()
);
}
}
else if (response['success'] == '0') {
btn_reset.html('<i class="fa fa-repeat"></i> Reset ');
alert(response['msg']);
}
}, 'json');
});
});</script>
<script type="text/javascript" src="/js/tib-quizzes.min.js?v=20230810"></script><script src="/js/header-circle.min.js?v=202305221900"></script><script type="text/javascript" src="/js/cookies.min.js"></script>
<script type="text/javascript">
// The cookies alert
if (! readCookie("displayCookieConsent") && ! readCookie("y") ) {
var cookieMSG = "We use cookies. By continuing to use this website you are giving consent to cookies being used.";
setTimeout(function() {
$.ajax({
cache: true,
url: "js/cookiechoices.js",
dataType: "script",
success: function () {
cookieChoices.showCookieConsentBar(cookieMSG, 'close', 'Read more', "economics/legal#cookies");
}
});
}, 2000);
}
</script><script>var sAJAX='/pages/activity/user-stats-page.php?t=fd6a5e8a06cfccf2&x=7883';var sData='0ebg+I>F/4F[IxZc+iZsoiQ1+jn2UjpCqiT2UMk8nV28IxZQo|c8U-/SU-/QUNn9oIpcLvc8hIqcUNQC2|)cLm])2IT10[/6/OnQ+|>9oNw1o[/z/On8LN>coOk[UxbOqNuc2|w6IicY/4FS]eg[2|TMojTe+iTaLmcgqt/z/OpCqir[UxbeqIn9LIb4qTZ1qx/z/4k8nV28/O8=';var loopSecs = 30;var lsKey = '260bc40c9a36148c8020482e40090bc2';</script><script src="/js/user/user-stats-page.min.js?v=202102101800"></script><script>var sessionUpdateSecs = 600;</script><script type="text/javascript" src="/js/session-updater.js?v=20200831"></script>
<script type="text/javascript">
$(document).ready(function(){
function padLeft(str,max){return str.length<max?padLeft("0"+str,max):str}function padRight(str,max){return str.length<max?padRight(str+"0",max):str}$("body").on("click",'a[href="#"], a.fancybox-nav, a[data-toggle="tab"], a[data-toggle="dropdown"], a[data-toggle="collapse"], a[data-toggle="modal"]',(function(e){e.preventDefault()}));var topmenuOffset=0,topmenuHeight=0;function fixDiv(t,h){$(window).scrollTop()<topmenuOffset||$("#topmenu ul.level-1").is(":visible")?($("#topmenu").css({position:"",width:""}),$("#topmenu").removeClass("fixed-top"),$("body").css({"padding-top":"0"})):($("#topmenu").css({position:"fixed",top:"0",width:$("#topmenu").width()+"px"}),$("#topmenu").addClass("fixed-top"),$("body").css({"padding-top":topmenuHeight+"px"}))}function fixSearchNav(){var searchMenuTop=topmenuOffset+topmenuHeight,searchMenuH=$("#nav-menu-search").is(":visible")?$("#nav-menu-search").outerHeight():0;if($(window).scrollTop()>searchMenuTop-topmenuHeight){var borderBottomWidth=parseInt($("#topmenu").css("borderBottomWidth"))+1;$("#nav-menu-search").css({position:"fixed",top:topmenuHeight+borderBottomWidth+"px",left:"0",right:"0"}),$("#nav-menu-search").addClass("fixed-top"),$("body").css("padding-top",topmenuHeight+searchMenuH+"px")}else $("#nav-menu-search").css({position:""}),$("#nav-menu-search").removeClass("fixed-top"),$("body").css("padding-top","0")}$("#topmenu").length&&(topmenuOffset=$("#topmenu").offset().top,topmenuHeight=$("#topmenu").outerHeight(),fixDiv(),$(window).scroll((function(){fixDiv(),fixSearchNav()}))),$("a.toggle-menu-search").on("click",(function(e){e.preventDefault(),$("#nav-menu-search").slideToggle("fast",(function(){$(this).find('input[name="s"]').focus()}))}));var menuH=$("#topmenu").height(),itemH=$("#topmenu > nav > ul > li").height();function fancyScrollTo(id){$("html, body").animate({scrollTop:$("#"+id).offset().top-300},300)}function printSectionBlog(){var w=$(window).width()/2,h,windowSettings="height="+($(window).height()-100)+", width="+w+", left=0, top=0, resizable=no, ";windowSettings+="scrollbars=yes, toolbar=no, menubar=no, location=no, ",windowSettings+="directories=no, status=yes";var myWindow=window.open("","Page printer",windowSettings),containerHtml=["<html>","<head>","<title>Page printer</title>",'<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/style.min.css?v=20230303">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+"/css/style"+SITE_TAG+'.min.css?v=202104061357">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/snippets.min.css?v=202210181500">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/article.min.css?v=202212191730">',"</head>","<body>",$("section#main-content").html().replace(/<span\sclass="MJX_Assistive_MathML".*?<\/span>/g,""),"</body>","</html>"].join("");containerHtml=containerHtml.replace(/src="files\//gi,'src="'+window.location.origin+"/files/"),myWindow.document.write(containerHtml),myWindow.document.close(),myWindow.focus(),setTimeout((function(){$.when(myWindow.print()).then(myWindow.close())}),1e3)}function PopupPrint(target){window.print()}$("#topmenu > nav > ul > li").each((function(){if(menuH>itemH&&$(this).position().top<1){var i=itemH+1;$(this).find("ul:first").css("margin-top","-"+i+"px")}})),$("#topmenu > nav > ul > li").on("mouseenter mouseleave",(function(e){var submenu=$("ul:first",this),submenuW=submenu.width();$(this).offset().left+submenuW>$(window).width()&&(submenu.css("right","0"),submenu.find("ul").each((function(){if(!$(this).hasClass("fixed")){var l=$(this).width()+submenuW;$(this).css("margin-left","-"+l+"px"),$(this).addClass("fixed")}})))})),$("a.showhider").click((function(e){e.preventDefault();var box="#"+$(this).attr("rel"),show='<i class="fa fa-eye"></i>',hide='<i class="fa fa-eye-slash"></i>';$(box).slideToggle("fast"),$(this).html($(this).html()==show?hide:show),$(this).attr("title","Show"==$(this).attr("title")?"Hide":"Show")})),$("a.scroll-to").click((function(e){e.preventDefault();var n=$("#"+$(this).data("target")).offset().top-70;$("html, body").animate({scrollTop:n},300)})),$("a.print-section-blog").click((function(e){e.preventDefault(),printSectionBlog()})),$(".print-button").click((function(e){var target;e.preventDefault(),PopupPrint("#"+$(this).data("target-id"))})),$(".alert.alert-success").delay(6e3).hide("fast",fixDiv());var fancyParent=1==$("body").find($("#main-article")).length?"#main-article":"body",fancyOptions={loop:!1,openEffect:"elastic",closeEffect:"elastic",nextEffect:"fade",prevEffect:"fade",parent:fancyParent,helpers:{title:{type:"inside"}}};if($("ul.gallery").each((function(){var rel=$(this).find("li:first-child > a:first-child").attr("rel");$('ul.gallery a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$(".carousel.slide").each((function(){var rel="gallery-"+$(this).data("id");$('.carousel.slide a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$("img.pop").parent("a").each((function(){$(this).attr("title",$(this).children("img").attr("alt"))})),$("img.pop").parent("a").fancybox({loop:!1,helpers:{title:{type:"inside"}}}),!are_cookies_enabled()){var msg='<div class="alert alert-error"><i class="fa fa-warning"></i> Your browser does not accept cookies from this site. Please enable cookies to log in.</div><div class="alert alert-info"><i class="fa fa-question-circle"></i> Enabling cookies in <a target="_blank" style="margin: 0; padding: 0;" href="https://support.mozilla.org/en-US/kb/enable-and-disable-cookies-website-preferences">Firefox</a>, <a target="_blank" style="margin: 0; padding: 0;" href="https://support.google.com/accounts/answer/61416?hl=en">Chrome</a>, <a target="_blank" style="margin: 0; padding: 0;" href="http://windows.microsoft.com/en-us/windows-vista/block-or-allow-cookies">Explorer</a></div>';$("#modal-login .modal-header").append(msg)}if($(".panel-expandable > .panel-heading").click((function(e){e.preventDefault();var panel=$(this).closest(".panel-expandable"),expandables=panel.hasClass("panel-has-footer")?".panel-body, .panel-footer":".panel-body";panel.find(".panel-body").is(":visible")?(panel.find(expandables).slideUp("fast"),panel.find(".expander > .fa-minus").removeClass("fa-minus").addClass("fa-plus")):(panel.find(expandables).slideDown("fast"),panel.find(".expander > .fa-plus").removeClass("fa-plus").addClass("fa-minus"))})),$("#modal-find-out-more").css({width:.8*$("#container").width()+"px","margin-left":-.4*$("#container").width()+"px"}),$(".modal-xxl").length){var modalTopPos=Math.round(.07*$(window).height());$(window).width()>1200&&$(".modal-xxl").css({"max-width":$(window).width()>960?"960px":$(window).width()+"px",width:$(window).width()>960?"960px":$(window).width()+"px","margin-left":$(window).width()>960?"-480px":Math.round($(window).width()/2)}),$(".modal-xxl").css("top",modalTopPos+"px"),$(".modal-xxl").on("shown",(function(){var mHeaderH=$(this).find(".modal-header").outerHeight(),mBody=$(this).find(".modal-body"),mBodyH=mBody.outerHeight(),mFooterH=$(this).find(".modal-footer").outerHeight(),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH;if(bottomOfTheModal<$(window).height())mBodyH+=$(window).height()-bottomOfTheModal-60,mBody.css("max-height",mBodyH+"px");else{$(window).scrollTop(0),modalTopPos=10,$(".modal-xxl").css("top",modalTopPos+"px"),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH,availableScroll=bottomOfTheModal-$(window).height()+modalTopPos;var lastPos=-1;$(window).on("scroll",(function(){var s=$(window).scrollTop()>availableScroll?availableScroll:$(window).scrollTop();newPos=modalTopPos-s,newPos!=lastPos&&($(".modal-xxl").css("top",newPos+"px"),lastPos=newPos)}))}}))}function popupHelp(url,title,w,h){var dualScreenLeft=void 0!==window.screenLeft?window.screenLeft:screen.left,dualScreenTop=void 0!==window.screenTop?window.screenTop:screen.top,width,height,left=(window.innerWidth?window.innerWidth:document.documentElement.clientWidth?document.documentElement.clientWidth:screen.width)/2-w/2+dualScreenLeft,top=(window.innerHeight?window.innerHeight:document.documentElement.clientHeight?document.documentElement.clientHeight:screen.height)/2-h/2+dualScreenTop,newWindow=window.open(url,title,"menubar=no,location=no,resizable=0, width="+w+", height="+h+", top="+top+", left="+left);return window.focus&&(newWindow?newWindow.focus():$('<div class="alert alert-warning" style="margin-bottom: 0px;"><p class="help-block">Pop Up blocked. Please allow Pop Ups in your browser settings.</p></div>').insertBefore("body")),newWindow}if($(".open-student-access-help").click((function(e){e.preventDefault();var h=$(window).height()-20,w=$(window).width()<1280?$(window).width():1280;popupHelp(helpURL,"Student Access Help",w,h)})),$(".pop-up-help").click((function(e){e.preventDefault();var url=$(this).attr("href"),title=$(this).data("title"),h=$(window).height()-20,w;popupHelp(url,title,$(window).width()<1280?$(window).width():1280,h)})),$("section.tib-hiddenbox").length){var count=0;$($("section.tib-hiddenbox").get().reverse()).each((function(){var box=$(this),revealButton;$("<a />").attr("class","btn showhider").attr("rel","hiddenBoxContent"+count).attr("style","margin-bottom: 0;").html('<i class="fa fa-eye"></i>').insertBefore(box);var newContainer=$("<div />").attr("class","hidden-content").attr("id","hiddenBoxContent"+count).html(box.html());newContainer.hide(),newContainer.insertBefore(box),box.remove(),count++})),$("a.showhider").on("click",(function(e){var container=$("#"+$(this).attr("rel"));container.is(":hidden")?(container.fadeIn("fast"),$(this).html('<i class="fa fa-eye-slash"></i>')):(container.fadeOut("fast"),$(this).html('<i class="fa fa-eye"></i>'))}))}
$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$(".tib-popover").popover({html:true,trigger:"hover",delay:{show:300,hide:300},placement:function(context,source){var position=$(source).position();if(position.top>200){return"top"}if(position.left<515){return"right"}if(position.top<200){return"bottom"}if(position.left>515){return"left"}return"top"}}).click(function(e){e.preventDefault()});var carouselTime=6500;$("div.carousel.slide").carousel({interval:carouselTime});$(".tib-indicators > img").click(function(){var index=$(this).index();var container=$(this).closest(".carousel.slide");container.carousel(index)});setShowResultsListeners($("#container"));addMarksThreads($("#modal-std-write"));
$('a.btn.showhider').click(function(e) {
var showHiderId = $( this ).attr('rel');
if( $('#'+showHiderId).find('iframe').length > 0 ) {
$('#'+showHiderId+' iframe').each(function() {
if ( $(this).attr('src').indexOf('.pdf') > 0 ) {
this.contentWindow.location.reload(true);
}
});
}
});
});
</script>
</body>
</html>