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17 key microeconomics diagrams for AS level and O level

Updated: Aug 30, 2021

Diagrams are very important for economics exams. Adding a relevant diagram to your essay will bring a strong support for your argument and will help you score a maximum of marks. A good grasp of diagrams is also essential for multiple choice questions.

The golden rule for diagrams is that they must be

Accurate

Big

Clear

Adapted to the question

Here is a list of the key microeconomics diagrams you must be familiar with before sitting for your AS level or O level economics exam.




1. The PPC curve

The PPC curve

2. Pivot and shift in the PPC curve

Pivot in the PPC curve
Pivot in the PPC curve

shift in the PPC curve
shift in the PPC curve


Elasticity


3. Elastic and inelastic demand curve


Elastic demand curve


Elastic demand curve

Inelastic demand curve

Inelastic demand curve

4. A perfectly inelastic demand curve



5. A perfectly elastic demand curve



6. Unitary elasticity

Unitary elasticity demand curve
Unitary elasticity


9. Price elasticity of supply and revenue


Inelastic supply curve Elastic supply curve

 Price elasticity of demand and revenue

8. The point elasticity of demand

point elasticity of demand


Government intervention


9. The effects of introducing a subsidy on a merit good

 The effects of introducing a subsidy on a merit good

10. The effect of an indirect tax on a demerit good

The effect of an indirect tax on a demerit good

11 Incidence of tax on consumers and producers and elasticity

Incidence of tax on consumers and producers and elasticity

12. Different types of tax

difference between spicific tax and advalorem tax


13. Fall in consumer surplus

Fall in consumer surplus

14. Fall in producer surplus

Fall in producer surplus

15. Increase in consumer surplus

Increase in consumer surplus

16. Maximun price


Maximum price diagram


17. Minimum price


Minimum price diagram


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