Microeconomics

Table of Contents

1. Topic pack - Microeconomics - introduction
2. 1.1 Competitive Markets: Demand and Supply
3. 1.1 Competitive Markets: Demand and Supply - notes
4. 1.1 Competitive markets - questions
5. 1.1 Competitive markets - simulations and activities
6. 1.2 Elasticities
7. 1.2 Elasticities - notes
8. Section 1.2 Elasticities - questions
   1. PED - short-answer
   2. Price, income and cross elasticity - self-test questions
   3. PES - short answer
   4. Inflation soars for staple foods
   5. Elastic iPods
   6. DaVinci scandal exposes tacky Chinese nouveau tastes
   7. Keep on boating
   8. Coffee prices remain high
   9. SUV's - cross elastic?
   10. Oil Prices
   11. Scare tactics lift prices for smokers
9. Section 1.2 Elasticities - simulations and activities
10. 1.3 Government intervention
11. 1.3 Government Intervention - notes
12. 1.3 Government intervention - questions
13. 1.3 Government intervention - simulations and activities
14. 1.4 Market failure
15. 1.4 Market failure - notes
16. Section 1.4 Market failure - questions
17. Section 1.4 Market failure - simulations and activities
18. 1.5 Theory of the firm
19. 1.5 Theory of the firm - notes (HL only)
20. Section 1.5 Theory of the firm - questions
21. Section 1.5 Theory of the firm - simulations and activities
22. Print View

DaVinci scandal exposes tacky Chinese nouveau tastes

Read the article DaVinci scandal exposes tacky Chinese nouveau tastes and then answer the questions below. You can either read the article in the window below or you can follow the previous link to read the article in a separate window.

Question 1

With the use of an appropriate diagrams compare and contrast Veblen and Giffen goods.

Question 2

Using examples, discuss the extent to which Veblen and Giffen goods exist in real life.