Microeconomics Articles

IB Microeconomics articles covering demand, supply, elasticity, government intervention, market failure, and diagrams.

What Is the Average IB Score? 2026 Statistics

The average IB score in May 2026 was 30.8 points. See the latest official IB score distribution, pass rate, historical averages, and how scores of 30, 35 and 40 compare.

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Microeconomics

Microeconomics in IB Economics: Individuals, Firms, Markets and Government Intervention

A clear overview of IB Microeconomics, covering demand, supply, market equilibrium, elasticity, government intervention and market failure.

Price Elasticity of Demand: How Responsive Consumers Are to Price Changes

A clear IB Economics explanation of price elasticity of demand, including elastic and inelastic demand, determinants of PED and total revenue effects.

Price Elasticity of Supply: How Responsive Producers Are to Price Changes

A clear IB Economics explanation of price elasticity of supply, including elastic and inelastic supply, determinants of PES and why producer responsiveness matters.

Income Elasticity of Demand: Normal Goods, Inferior Goods, Luxuries and Necessities

A clear IB Economics explanation of income elasticity of demand, including normal goods, inferior goods, luxuries, necessities and why YED matters.

Movement Along a Curve vs Shift of a Curve: The Most Important Diagram Distinction in IB Economics

A clear IB Economics explanation of the difference between movements along curves and shifts of curves in demand and supply diagrams.

Market Failure in IB Economics: When Markets Allocate Resources Inefficiently

A clear IB Economics explanation of market failure, including externalities, public goods, asymmetric information, market power, equity and government responses.

Price Controls in IB Economics: Price Ceilings, Price Floors, Shortages and Surpluses

A clear IB Economics explanation of price controls, including price ceilings, price floors, shortages, surpluses and stakeholder effects.

Externalities in IB Economics: Negative Externalities, Positive Externalities and Third-Party Effects

A clear IB Economics explanation of externalities, including negative externalities, positive externalities, third-party effects, welfare loss and government responses.

How to Draw Externality Diagrams Without Memorising

Learn a step-by-step method to draw externality diagrams for IB Economics without rote memorisation. Perfect for students preparing for exams.

Jul 8, 2025

5 min read

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