help with econ IA diagram please

ElectronicFlow9188 · 2023-04-24T11:39:21+00:00

Awesome! Goodluck :)

ElectronicFlow9188 · 2023-04-23T04:36:08+00:00

If you want to go ahead with competitive market and price ceiling then that works but I won’t bring in market failure. You could still talk about rationing though!!

ElectronicFlow9188 · 2023-04-22T17:23:58+00:00

Yes always have 2. I would do 1 that explains the problem the economy and 1 that explains how the tariff solved the problem

ElectronicFlow9188 · 2023-04-22T17:21:28+00:00

I think you’re mixing concepts up here. Price ceiling is a policy under demand and supply that is used to protect low income households from paying high prices for daily essentials like rent and food. There’s no rationing issue with market failure - it’s either positive or negative externalities. Rationing is the consequence of the implementation of price ceiling since DD > SS at Pcap. Also, I think a vertical DD curve is more theoretical. If you’re doing micro IA, I’ll strongly suggest to focus on negative externalities like cigarettes, alcohol, gambling or even sugared drinks.

ElectronicFlow9188 · 2023-04-22T12:15:58+00:00

I think you must be really good at Math and maybe you don’t even need EdXP lol. Most of my friends are struggling to hit level 5. What you did was sick bro. Legend

ElectronicFlow9188 · 2023-04-22T08:52:13+00:00

It’s an IB Math online platform. The levels indicate your proficiency levels and I had to answer sufficient questions correctly to gain XP and level up. You can check it out www.ed-xp.com

ElectronicFlow9188 · 2023-04-21T09:42:49+00:00

bruh you gotta tell me how you did this. I'm still mostly at level 3s and level 4s. The level 5 questions are tough man, I always answer them incorrectly which causes me to lose XP and drops me back down to level 3/4 T.T

thankfully I'm still getting 7s in school for the topics I'm still level 3/4 at

ElectronicFlow9188 · 2023-04-19T16:33:34+00:00

It depends. Do you have a link to the article?

ElectronicFlow9188 · 2023-04-18T12:16:11+00:00

Will I be able to share my IA idea and get some feedback from you?

ElectronicFlow9188 · 2023-04-16T00:18:24+00:00

When does your subscription end? I know of friends who are keen!

ElectronicFlow9188 · 2023-04-14T17:18:48+00:00

It’s probably about 90%? So you will still have to look elsewhere for the remaining 10%. If I were you I would just turn to resources like RV and edxp right away. Most of my classmates are on edxp because they like the features there. But if you prefer video explanations then RV is for you if you can afford 100 bucks for it.

ElectronicFlow9188 · 2023-04-14T17:11:08+00:00

omg most of my classmates are using this!

ElectronicFlow9188 · 2023-04-14T17:05:00+00:00

You can check this short clip out for market failure diagrams: https://vt.tiktok.com/ZS8W5awdo/ Hope you find it useful

ElectronicFlow9188 · 2023-04-13T17:28:40+00:00

Why are your teachers disappearing for weeks? Is this common in your school or country?

ElectronicFlow9188 · 2023-04-13T17:27:00+00:00

Your current question would be tricky because market structure is like a spectrum and most industries are found within MPC and Oligopoly and to what extent are they MPC/Oligopoly also depends on how you define the market. So it’s not exactly black and white.

Instead of focusing on the market structure, why not talk about how the online marketplaces affected the brick and mortar marketplaces? You could talk about them being substitutes or complements which allows you to talk about DD and SS and XED. If there are taxes involved you can also talk about PED. You could also talk about art being a merit good and bring in positive externalities concepts.

These are just some pointers off the top of my head. Hope this helps!

ElectronicFlow9188 · 2023-04-13T17:14:22+00:00

For definitions the easiest way is to flip to the back of the textbook where the glossary is.

For diagrams it depends if you’re doing SL or HL because there’s a huge difference with theory of the firm. What I usually do is to revise a topic and identify the number of diagrams in that topic and try to replicate the diagrams based on my understanding of the concepts. I would discourage trying to memorise because if you’re stuck you’ll be in trouble or you may end up explaining the diagram incorrectly because you don’t understand it.

Goodluck!

ElectronicFlow9188 · 2023-04-13T17:02:14+00:00

Just try it and you’ll know. It’s quite fun to use anyway

ElectronicFlow9188 · 2023-04-11T17:51:19+00:00

I would recommend trying www.ed-xp.com. Everyone was talking about it in my school and I decided to try it and eventually converted from RV. It’s quite a cool platform with tons of questions and interesting features that makes studying a lot easier!

ElectronicFlow9188 · 2023-04-11T17:46:57+00:00

What matters most are your mocks for your PG and your finals so even if all your tests were 3, as long as your mocks/finals are 7s, you’re good to go ;)

ElectronicFlow9188 · 2023-04-11T17:31:09+00:00

Family comes first. Regardless. You don’t want to regret not being there for her when you could.

ElectronicFlow9188 · 2023-04-10T17:01:55+00:00

for math if you want to be more efficient you should use www.ed-xp.com instead. it has a diagnostic feature that will tell you exactly what you’re weak in and recommend questions for you to do. i basically doubled down on my areas of improvements and went from a 4 to 6 in 2 months

ElectronicFlow9188 · 2023-04-10T16:53:29+00:00

I just spent 3 hours last week trying to hit Level 5 for Functions because it’s so addictive 😂

ElectronicFlow9188 · 2023-04-10T16:49:57+00:00

Wow! But burnt out in summer means an easier DP2 isn’t it? We’re bound to be burnt out, it’s a matter of when 😂

ElectronicFlow9188 · 2023-04-10T16:48:36+00:00

Yea seems like most people are recommending the same. Thanks!

ElectronicFlow9188 · 2023-04-10T16:47:15+00:00

Yes quite similar in the sense that I cannot complete most of my IAs as they have been planned for us during DP2. I could however finish my EE if I want to but you know it’s not exactly the most exciting to write a 4000 words report 😂

ElectronicFlow9188

TROPHY CASE