Summary
Summary IB Economics Formula Sheet
- Course
- Level
- Book
Includes all formulas for microeconomics, macroeconomics and international economics of the IB economics HL curriculum.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
More summaries for
-
Complete notes for the 2022 IB Business Management course
-
IB BUSINESS MANAGEMENT unidad 1
-
IB BUSINESS MANAGEMENT Unidad 3 y 4 (finanzas y marketing)
Seller
Follow
emmavandoremalen
Content preview
Formula sheet IB Economics HLDemand function:
𝑄𝑑 = 𝑎 − 𝑏𝑃
Qd = quantity demanded
P = price
a = Qd if price is zero
b = slope
Supply function:
𝑄𝑠 = 𝑐 + 𝑑𝑃
Qs = quantity supplied
P = price
a = Qs if price is zero
b = slope
Community surplus:
Consumer surplus + producer surplus = community surplus (total benefit to society)
% change for elasticities:
new value - old value
% change = × 100
old value
Price elasticity of demand (PED):
% change in Qd
PED =
% change in price
Cross elasticity of demand (XED):
% change in Qd of product X
XED =
% change in price of product Y
Income elasticity of demand (YED):
percentage change in Qd
YED =
% change in income of consumer
Price elasticity of supply (PES):
% change in Qs
PES =
% change in price
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller emmavandoremalen. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.35. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
50064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now