46 key microeconomics diagrams for A level

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 A level economics exam (Paper 32 and paper 42).

1. Productive efficiency

2. Productive efficiency and perfect competition

3. Allocative efficiency

4. Allocative efficiency

5. Pareto efficiency

6. Budget line when there is a fall in price B

7. Indifference curve

7.5 Total utility and marginal utility

8. An increase in income on indifference curves and budget lines

9. Total cost curve, total variable cost curve, total fixed cost curve.

9. Average cost curves and marginal cost curves

10. Isoquant map

11. Costs in the short run

12. Costs in the long run

13. Perfectly competitive firm in the short run

14. Perfectly competitive firm in the long run

15. Monopolistic competition

16. Monopoly firm in the short run and long run

17. Comparision between a monopoly and a perfectly competitive firm

18. Profit maximising output

19. Sales maximisation

20. Profit maximisation vs revenue maximisation

21.Oligopoly

22. Price leadership under monopoly

23. Shut down point

24. Deadweight loss under monopoly

25. Imposition of an indirect tax

26. External costs and the use of indirect taxation

27. Market for pollution permits

28. Negative consumption externalities

29. Positive production externalities

30. External benefits and use of subsidy

31. lorenze curve

32. Individual supply curve of labour.

33. Supply curve of labour for a firm or industry

34. Equilibrium in the labour market

35. Increase in demand for labour

36. Increase in supply for labour

37. Economic rent and transfer earnings

38. Economic rent

39. Transfer earnings

40. Marginal product and average product

41 Minimum wage

42. Minimum wage and elasticity

43. Monopsony buyer of labour

44. Income and substitution effect

45. Wage determination in perfect markets

46. Wage determination and trade unions