A prospective future for electric cars

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Reuters: Automakers race to double the driving range of affordable electric cars

Article published: Mar 24, 2015 – out of date: no longer suitable for your IB Economics commentary

IB Economics syllabus: Microeconomics (demand/supply, oligopoly, negative externality of production)

Demand for electric cars are very low relative to demand for conventional ones. This might change in the coming years as electronic vehicle manufacturers plan to produce cars with larger driving ranges and sell them at more affordable prices. This would be welcome by Govt’s who seek to promote a cut in pollution levels. Increasing the driving range is a form of non-price competition companies engage in to increase their market share.

Source of image: Lucy Nicholson/Reuters

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By EconDaddy IB Economics tutor|2022-01-13T12:07:43+00:00March 25th, 2015|Micro|Comments Off

About the Author: EconDaddy IB Economics tutor

My name is Daniel Szekely and I work as an IB Economics tutor, examiner and teacher. Having earned an MA degree in Economics at the University of Aberdeen, I started my career as a financial analyst at Morgan Stanley, one of the largest investment banks of the world. Yet, despite the promising career prospects of the banking industry, I decided to make a larger social impact by becoming a teacher. Currently, I teach IB Economics at SEK Budapest International School and have been an examiner for over 8 years. I started EconDaddy as a simple blog to share great articles with my students and others taking IB Economics around the world to use for their commentaries. Being a practicing IB Economics tutor, I have first hand insight into the most common mistakes of students, so the EconDaddy blog now also provides exam and commentary writing tips.