IBDP Economics

Microeconomics

Unit 2.7(2): Governments in markets - subsidies Free

This page covers the subsidy section of the syllabus. It includes the nature of subsidies, reasons for subsidies, how subsidies affect markets, the impact of PED and PES on subsidies and the way subsidies affect different stakeholders.  A subsidy...

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Question 2: Unit 3.3 inflation

1. (a) Explain one supply and one demand factor that may cause an unexpected rise in average prices [10 marks]   How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - deflation Main Body

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Examination style question 2 (unit 1) provision of merit goods

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Question 4 Currency depreciation

In Turkey now the abnormal is the new normal. If official figures are to be believed, annual inflation now exceeds 79%. If Turkish consumers are to be believed, it is much higher. Measured against the dollar, the lira resembles a black-diamond...

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Question 4: Long term unemployment in Spain

Unemployment in Spain While many nations, in the post-covid era suffering from a labour shortage, Spain appears to be suffering from a shortage of a different kind – a shortage of jobs for the nation’s unemployed men and women to take. As the...

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Question 9: Unit 3.3 poverty and income inequality

(a) Illustrate using a suitable diagram why poverty is likely to rise when an economy enters recession. [10 marks] How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - recession, poverty. 

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Question 5: Unit 3.3 inflation

(a) Explain why measuring the rate of inflation accurately may be difficult for some governments.  [10 marks] How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - central bank, interest...

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Question 3: Unit 3.3 inflation and unemployment

1. (a) Identify one supply and one demand factor that may cause an unexpected rise in average prices [10 marks]   How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - inflation Main...

Paper one

Question 1: Unit 3.3 deflation Free

(a) Suggest possible reasons why a governments measure national income?  [10 marks] How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - national income Main Body Using an appropriate...

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Question 2: Units 2.7-2.10 price floors

a. Explain why governments impose indirect taxes on specific goods and services.  [10 marks] Command term: Explain How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay (indirect tax) Main...

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Question 3: Units 2.7-2.10 indirect taxes

3a. Illustrate using a suitable diagram, the impact of a price floor on community surplus.  [10 marks] Command term: Explain How to write this part (a) response: Introduction Define the economics terms used in the first part of the essay - price...

Internal assessment

Global economics model answer 

This section includes model answers for the internal assessment. Start by reading the article included and then make notes on how you would structure your IA. Finally, click on the little eye to view my model response. 

Internal assessment

Macroeconomics model answer 

This section includes model answers for the internal assessment. Start by reading the article included and then make notes on how you would structure your IA. Finally, click on the little eye to view my model response. 

Internal assessment

Microeconomics model answer

This section includes model answers for the internal assessment. Start by reading the article included and then make notes on how you would structure your IA. Finally, click on the little eye to view my model response.  Title of the article:  Scotland...

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Unit 4: Global economics model answers

This page is the landing page for the model answers in unit 4, Global economics. Answer each of the questions in this section, before checking your response against my (annotated) answer to score your own response.    

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Question 3: Monetary union

The East African Monetary Union (EAMU) is being touted as a significant moment fo the east of the continent in a move that will allows the EAC Partner States to progressively converge their currencies into a single currency in the community.

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Question 2: Protectionism

US importers were burdened with additional costs following tariffs imposed on more than $300 billion in Chinese goods during his presidency, the US international trade commission finds, following the so-called section 301 tariffs.  The report...

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Question 1 Exchange rates Free

The Lebanese pound, after many decades pegged at 1,507-1,512 to the US$, has sunk to a historic low against the US dollar on the country’s parallel market, the latest sombre milestone in an economic meltdown that has plunged much of the population...

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Unit 3: Macroeconomics model answers

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Question 4: Unemployment

Youth unemployment in China has soared to a record high as the country’s economy struggles to recover from zero-Covid restrictions. One in five of China’s young adults are now unemployed, official figures show. The jobless rate among 16 to 24-year-olds...