Detailed Diagrams - Indirect Taxation

Within the IB course, Higher Level Economics students are required to consider the impact of an indirect tax on key stakeholders in the market. Whilst the basic analysis of price, quantity, government tax revenue and consumer/producer burdens is fairly simple, the additions of producer revenue implications and society welfare considerations are often lacking. Attending an IB Economics conference last Summer opened my eyes to how students who go 'the extra mile' like this will be rewarded and can access the higher marks. I found this so rewarding and pleasing - a diagram geek like me could release the shackles and dissect diagrams into their key components. Here is the first video in a series, looking at an indirect tax and the impacts on key stakeholders in the market.