Every diagram you need for A-Level Economics — micro and macro, fully labelled, across all major exam boards.
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120 diagrams
The downward-sloping demand curve showing the inverse relationship between price and quantity demanded. Illustrates the law of demand with a standard D curve.
View →Supply & DemandThe upward-sloping supply curve showing the positive relationship between price and quantity supplied. Illustrates the law of supply with a standard S curve.
View →Supply & DemandStandard supply and demand diagram showing market equilibrium where quantity demanded equals quantity supplied, determining the equilibrium price and quantity.
View →Supply & DemandDiagram showing a rightward shift of the demand curve, leading to higher equilibrium price and quantity. Used to analyse factors increasing demand such as rising incomes or changing tastes.
View →Supply & DemandDiagram showing a leftward shift of the demand curve, leading to lower equilibrium price and quantity. Used to analyse factors decreasing demand such as falling incomes or a substitute becoming cheaper.
View →Supply & DemandDiagram showing a rightward shift of the supply curve, leading to lower equilibrium price and higher quantity. Used to analyse cost reductions, technology improvements, or subsidies.
View →Supply & DemandDiagram showing a leftward shift of the supply curve, leading to higher equilibrium price and lower quantity. Used to analyse cost increases, raw material shortages, or taxes.
View →Supply & DemandDiagram showing simultaneous rightward shifts of both supply and demand, with the net effect on equilibrium price ambiguous and equilibrium quantity rising.
View →Supply & DemandDiagram showing simultaneous leftward shifts of both supply and demand, with the net effect on equilibrium price ambiguous and equilibrium quantity falling.
View →Supply & DemandDiagram illustrating how a leftward demand shift creates a market surplus at the original price, and how the price mechanism restores equilibrium.
View →Supply & DemandDiagram showing consumer surplus (area above price and below demand curve) and producer surplus (area below price and above supply curve) at market equilibrium.
View →Supply & DemandDiagram showing the welfare loss triangle created when output deviates from the allocatively efficient level, as occurs with taxes, price controls, or monopoly.
View →ElasticityDemand curve with PED > 1 (elastic), showing that a given percentage price rise leads to a larger percentage fall in quantity demanded. Revenue falls when price rises.
View →ElasticityDemand curve with PED < 1 (inelastic), showing that a percentage price rise leads to a smaller percentage fall in quantity demanded. Revenue rises when price rises.
View →ElasticityDemand curve with PED = 1, where percentage change in price equals percentage change in quantity demanded. Total revenue remains unchanged when price changes.
View →ElasticityHorizontal demand curve showing perfectly elastic demand (PED = ∞). Any price rise above the market price causes quantity demanded to fall to zero.
View →ElasticityVertical demand curve showing perfectly inelastic demand (PED = 0). Quantity demanded does not change regardless of the price level.
View →ElasticityDiagram linking the price elasticity of demand to total revenue, showing how revenue changes as price changes along an elastic or inelastic demand curve.
View →ElasticitySupply curve with PES > 1 (elastic), showing that producers can increase output proportionally more than a price rise. Common in industries with spare capacity.
View →ElasticitySupply curve with PES < 1 (inelastic), showing that quantity supplied responds less than proportionally to a price rise. Common with perishable or capacity-constrained goods.
View →ElasticitySupply curve with PES = 1, passing through the origin, where the percentage change in quantity supplied exactly matches the percentage change in price.
View →ElasticityHorizontal supply curve showing perfectly elastic supply (PES = ∞). Producers supply any quantity at a given price but nothing below it.
View →ElasticityVertical supply curve showing perfectly inelastic supply (PES = 0). Quantity supplied is fixed regardless of price, as with land or limited-edition goods.
View →ElasticityDiagram showing positive cross elasticity of demand between substitute goods, where a rise in the price of one good increases the demand for the other.
View →ElasticityDiagram showing negative cross elasticity of demand between complementary goods, where a rise in the price of one good reduces demand for the other.
View →ElasticityDiagram showing positive income elasticity of demand for normal goods, where a rise in income increases the quantity demanded at every price.
View →ElasticityDiagram showing income elasticity of demand greater than 1 for luxury goods, where demand rises more than proportionally with income.
View →ElasticityDiagram showing negative income elasticity of demand for inferior goods, where demand falls as income rises because consumers switch to superior alternatives.
View →Costs & ProductionDiagram showing total cost, total fixed cost, and total variable cost curves in the short run, illustrating how costs change as output increases.
View →Costs & ProductionDetailed diagram of total cost, total fixed cost, and total variable cost curves showing the vertical gap (fixed costs) and the shape driven by diminishing marginal returns.
View →Costs & ProductionU-shaped LRAC curve (envelope curve) showing economies of scale, the minimum efficient scale, and diseconomies of scale in the long run.
View →Costs & ProductionDiagram illustrating internal and external economies of scale, showing how average costs fall as a firm or industry expands output in the long run.
View →Costs & ProductionDiagram showing the breakeven point (P = AC) and the shutdown point (P = AVC) for a competitive firm, distinguishing short-run and long-run survival conditions.
View →Market StructuresDiagram showing the profit-maximising output where marginal revenue equals marginal cost (MR = MC), with the profit rectangle between AR and AC illustrated.
View →Market StructuresClassic monopoly diagram with downward-sloping AR = Demand, MR below AR, and profit-maximising output at MR = MC, showing supernormal profit and deadweight welfare loss.
View →Market StructuresDiagram showing a natural monopoly where the LRAC is still falling across the entire relevant range of demand, making a single producer the most efficient market structure.
View →Market StructuresTwo-panel diagram showing industry equilibrium and individual firm behaviour in perfect competition, with the long-run adjustment process as supernormal profits attract entry.
View →Market StructuresDiagram showing a perfectly competitive firm making a short-run loss (P < AC), with the loss rectangle illustrated and the decision to stay open while P > AVC.
View →Market StructuresDiagram showing monopolistic competition in the short run (supernormal profit) and long run (normal profit), with the firm facing a downward-sloping demand curve.
View →Market StructuresSweezy's kinked demand curve model for oligopoly, explaining price rigidity: rivals match price cuts but not price rises, creating a kink and discontinuous MR curve.
View →Market StructuresDiagram illustrating the theory of contestable markets, where the threat of new entry disciplines incumbent firms to price competitively even in concentrated markets.
View →Market StructuresDiagram contrasting allocative efficiency (P = MC) and productive efficiency (P = min AC), showing where each is achieved and comparing market structures.
View →Price DiscriminationDiagram showing a monopolist extracting all consumer surplus by charging each consumer their maximum willingness to pay, eliminating the deadweight loss.
View →Price DiscriminationDiagram showing block pricing (second-degree price discrimination), where consumers pay different prices for different quantities consumed, such as utility tariffs.
View →Price DiscriminationDiagram showing market segmentation into two groups with different PEDs, with the firm charging a higher price in the inelastic segment and lower in the elastic segment.
View →Government InterventionSupply and demand diagram showing the effect of a specific per-unit tax: leftward supply shift, rise in consumer price, fall in producer price, tax revenue rectangle, and deadweight loss.
View →Government InterventionSupply and demand diagram showing the effect of a percentage (ad valorem) tax, which rotates the supply curve, widening the tax wedge at higher quantities.
View →Government InterventionSupply and demand diagram showing the effect of a per-unit government subsidy: rightward supply shift, lower consumer price, higher producer price, subsidy cost rectangle.
View →Government InterventionDiagram showing the effect of a government-imposed maximum price set below equilibrium, creating excess demand (shortage) and reducing total welfare.
View →Government InterventionDiagram showing the effect of a government-imposed minimum price set above equilibrium, creating excess supply (surplus) and reducing total welfare.
View →Government InterventionDiagram showing a buffer stock scheme where a government agency buys when prices fall below a floor and sells when prices rise above a ceiling to stabilise commodity prices.
View →Government InterventionSupply and demand diagram showing the effect of an import quota: domestic price rises above world price, domestic output increases, consumer surplus falls, and a quota rent is created.
View →Government InterventionSupply and demand diagram showing the effect of an import tariff: domestic price rises, consumer surplus falls, government gains tariff revenue, and a deadweight loss is created.
View →Government InterventionDiagram showing the effect of an export subsidy on domestic and world markets, with domestic consumers paying a higher price and producers receiving the world price plus subsidy.
View →Government InterventionDiagram illustrating a cap-and-trade scheme for pollution, showing how the permit market sets a price for emissions and achieves a socially optimal output level.
View →ExternalitiesDiagram showing MSC above MPC, with the free market overproducing at Qp and the socially optimal output at Qs (MSC = MPB), along with the welfare loss triangle.
View →ExternalitiesDiagram showing MSB below MPB, with the free market overconsumption at Qp and the socially optimal quantity at Qs (MSB = MSC), illustrating the welfare loss.
View →ExternalitiesDiagram showing MSC below MPC, with the free market underproducing at Qp and the socially optimal output at Qs (MSC = MPB), with a Pigouvian subsidy restoring optimality.
View →ExternalitiesDiagram showing MSB above MPB, with the free market underconsumption at Qp and the socially optimal quantity at Qs (MSB = MSC), illustrating the welfare gain from a subsidy.
View →ExternalitiesDiagram illustrating market failure due to asymmetric information (moral hazard and adverse selection), showing how information gaps lead to under- or over-provision of goods.
View →ExternalitiesDiagram illustrating the free rider problem for non-excludable, non-rival public goods, showing why the market fails to provide them and justifying government provision.
View →ExternalitiesDiagram illustrating behavioural economics interventions such as default options, framing, and nudges that shift consumer choices without restricting freedom.
View →ExternalitiesS-shaped value function from Kahneman and Tversky's Prospect Theory showing loss aversion — losses loom larger than equivalent gains in consumers' utility function.
View →Labour MarketsStandard labour market diagram with downward-sloping labour demand (MRP) and upward-sloping labour supply, determining equilibrium wage and employment.
View →Labour MarketsDiagram showing the MRP curve as the labour demand curve, derived from diminishing returns, and used to determine the profit-maximising level of employment.
View →Labour MarketsLabour market diagram showing a minimum wage set above equilibrium, creating unemployment (excess supply of labour) or reducing it in a monopsony market.
View →Labour MarketsDiagram showing a monopsonist employer who faces an upward-sloping labour supply and MCL above supply, paying a lower wage and employing fewer workers than the competitive outcome.
View →Labour MarketsDiagram showing a trade union pushing wages above the competitive equilibrium, creating a wage-employment trade-off with unemployment shown.
View →Labour MarketsDiagram showing bilateral monopoly in the labour market — a trade union negotiating against a monopsonist employer, with the wage and employment level indeterminate between the two extremes.
View →Labour MarketsLabour market diagram illustrating wage discrimination, showing how identical workers in different groups are paid below their MRP, creating a welfare loss.
View →Income & WealthDiagram showing the Lorenz curve measuring income inequality: the further the curve bows from the 45° line of perfect equality, the greater the inequality (Gini coefficient).
View →Income & WealthDiagram comparing Lorenz curves for two countries with different Gini coefficients, illustrating relative income inequality and its change over time.
View →AD/AS ModelKeynesian AD/AS diagram with a flat SRAS and an L-shaped (or horizontal) LRAS in the short run, illustrating how demand stimulus can raise real output when there is spare capacity.
View →AD/AS ModelClassical AD/AS diagram with a vertical LRAS at the natural rate of output, showing that demand shocks only affect the price level in the long run.
View →AD/AS ModelKeynesian AD/AS diagram showing a rightward AD shift below full employment, increasing real GDP with little or no rise in the price level.
View →AD/AS ModelClassical AD/AS diagram showing a rightward AD shift at full employment, causing only a rise in the price level with no permanent increase in real output.
View →AD/AS ModelAD/AS diagram showing a leftward AD shift causing a fall in real GDP and a negative output gap, illustrating recession and demand-deficient unemployment.
View →AD/AS ModelAD/AS diagram showing a rightward SRAS shift due to falling input costs or technology improvement, reducing inflation and raising real output simultaneously.
View →AD/AS ModelAD/AS diagram showing a leftward SRAS shift due to rising input costs or supply disruption, causing stagflation — higher price level and lower real output.
View →AD/AS ModelAD/AS diagram showing a rightward shift of the LRAS representing an increase in the productive capacity of the economy (long-run supply-side growth).
View →AD/AS ModelDiagram showing how supply-side policies (education, deregulation, tax reform, infrastructure) shift the LRAS rightward, raising the economy's potential output.
View →AD/AS ModelAD/AS diagram illustrating a negative output gap where actual GDP is below potential GDP, associated with demand-deficient unemployment and deflationary pressure.
View →AD/AS ModelAD/AS diagram illustrating a positive output gap where actual GDP exceeds potential GDP, associated with demand-pull inflation and overheating.
View →Inflation & UnemploymentAD/AS diagram showing demand-pull inflation where excess aggregate demand pulls the price level upward, typically associated with a positive output gap.
View →Inflation & UnemploymentAD/AS diagram showing cost-push inflation where a rise in production costs (wages, energy) shifts SRAS left, raising prices and reducing output simultaneously.
View →Inflation & UnemploymentDiagram showing the self-reinforcing cycles of rising inflation (wage-price spiral) or deflation (debt-deflation trap) and their macroeconomic implications.
View →Inflation & UnemploymentPhillips Curve diagram showing an upward shift of the SRPC due to higher inflation expectations, illustrating the expectations-augmented Phillips Curve adjustment process.
View →Inflation & UnemploymentLabour market diagram showing demand-deficient unemployment caused by a fall in aggregate demand, illustrated as a leftward shift in the labour demand curve.
View →Inflation & UnemploymentDiagram illustrating different types of unemployment (frictional, structural, demand-deficient, seasonal) and their relationship to the NAIRU and LRAS position.
View →Inflation & UnemploymentShort-run Phillips Curve showing the inverse trade-off between inflation and unemployment — lower unemployment is associated with higher inflation in the short run.
View →Inflation & UnemploymentVertical long-run Phillips Curve at the natural rate of unemployment (NAIRU), showing that there is no long-run trade-off between inflation and unemployment.
View →Fiscal PolicyAD/AS diagram showing the effect of an increase in government spending or a tax cut, shifting AD right and raising real GDP (and potentially the price level).
View →Fiscal PolicyAD/AS diagram showing the effect of a cut in government spending or a tax rise, shifting AD left to reduce inflationary pressure at the cost of lower real output.
View →Fiscal PolicyDiagram illustrating how automatic stabilisers (progressive tax and welfare spending) reduce the size of the fiscal multiplier and dampen cyclical fluctuations in GDP.
View →Fiscal PolicyDiagram illustrating the Keynesian multiplier: an initial injection of spending is magnified through successive rounds of consumption, producing a larger final change in GDP.
View →Fiscal PolicyThe Keynesian cross (45° line) diagram showing equilibrium national income where aggregate expenditure equals national income, and the impact of injections on equilibrium.
View →Fiscal PolicyDiagram showing how increased government borrowing raises interest rates, reducing private investment and partially offsetting the fiscal stimulus (crowding out effect).
View →Fiscal PolicyThe Laffer Curve showing the relationship between tax rate and tax revenue, illustrating that beyond a peak rate, higher taxes reduce revenue by discouraging economic activity.
View →Fiscal PolicyDiagram showing the accelerator principle: investment responds more than proportionally to changes in national income, amplifying cyclical fluctuations.
View →Monetary PolicyFlow diagram showing how a change in the central bank base rate transmits through the economy: affecting market rates, asset prices, exchange rates, and ultimately output and inflation.
View →Monetary PolicyDiagram showing the money market with money supply (vertical) and money demand (downward-sloping), determining the equilibrium interest rate.
View →Monetary PolicyMoney market diagram showing a rightward shift in money supply, reducing the interest rate and stimulating borrowing and investment.
View →Monetary PolicyDiagram explaining quantitative easing: the central bank purchases government bonds, increasing the money supply, pushing down long-term interest rates, and boosting asset prices.
View →Monetary PolicyMoney market diagram showing the liquidity trap: when interest rates approach zero, increases in money supply fail to lower rates further, making conventional monetary policy ineffective.
View →Monetary PolicyDiagram illustrating the quantity theory of money (MV = PQ), showing how increases in money supply translate into price level rises when velocity and output are fixed.
View →National IncomeTwo-sector circular flow model showing the flow of income and expenditure between households and firms through goods markets and factor markets.
View →National IncomeFive-sector circular flow diagram showing leakages (savings, taxes, imports) and injections (investment, government spending, exports) and their effect on national income.
View →National IncomeDiagram of the economic business cycle showing boom, recession, trough, and recovery phases relative to trend GDP growth, along with output gap fluctuations.
View →Exchange RatesSupply and demand for currency diagram showing how the exchange rate is determined in a free-floating regime by the interaction of demand and supply of the currency.
View →Exchange RatesForeign exchange diagram showing an increase in demand for currency (or decrease in supply) leading to currency appreciation and its effects on exports, imports, and the current account.
View →Exchange RatesForeign exchange diagram showing a fall in demand for currency (or increase in supply) leading to depreciation, improving competitiveness but risking import-cost inflation.
View →Exchange RatesDiagram showing a fixed exchange rate regime with a managed band, illustrating how the central bank intervenes to maintain the rate within the target range.
View →Exchange RatesTime-series diagram showing the J-curve effect: after a currency depreciation the current account initially worsens before improving, as trade volumes adjust with a lag.
View →Exchange RatesDiagram explaining the Marshall-Lerner condition: currency depreciation improves the current account only if the sum of PED for exports and imports exceeds one.
View →Exchange RatesDiagram showing the structure of the balance of payments: current account (trade in goods and services, income, transfers) and capital/financial account and their interrelationship.
View →Economic GrowthConcave PPF showing the maximum combinations of two goods an economy can produce with given resources, illustrating opportunity cost, productive efficiency, and scarcity.
View →Economic GrowthPPF diagram showing an outward shift representing economic growth (increase in productive capacity) through capital accumulation, technology, or labour force expansion.
View →Economic GrowthPPF-based diagram illustrating comparative advantage: countries gain from specialisation and trade even if one country has an absolute advantage in producing all goods.
View →Economic GrowthDiagram illustrating the Harrod-Domar growth model: economic growth requires investment (funded by savings) to expand the capital stock, with growth rate = savings rate / capital-output ratio.
View →Economic GrowthDiagram illustrating the Lewis two-sector model of development: surplus labour moves from the traditional agricultural sector to the modern industrial sector, driving growth.
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