Ib econ - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Ib econ? On this page you'll find 184 study documents about Ib econ.
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IB Economics Top Forecasted Exam Questions And Correct Answers
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Ceteris paribusall other things are being held equal 
positive economicsmatters of economics that can be proven to be right or wrong by 
looking at the facts 
normative economicsmatters of economics that are based upon opinion and so are 
incapable of being proven to be right or wrong 
scarcitythe limited availability of economic resources relative to societys unlimited 
demand for goods and services
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ALL IB Economics SL Terms
- Exam (elaborations) • 25 pages • 2023
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ALL IB Economics SL Terms 
Absolute poverty - ANS-The inability of an individual or a family to afford a basic 
standard of goods and services, where the standard is absolute and unchanging over 
time. Absolute poverty is defined in relation to a nationally or internationally determined 
'poverty line', which determines the minimum income that can sustain a family in terms 
of its basic needs. 
Actual output - ANS-The quantity of output actually produced by an economy. 
Ad Valorem Taxes - ...
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IB Economics Microeconomics Midterm Exam Questions With Correct Answers 2024.
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Scarcity - Answer the condition that results from limited resources combined with unlimited wants 
 
Opportunity Cost - Answer Cost of the next best alternative use of money, time, or resources when one choice is made rather than another 
 
Factors of Production - Answer resources of land, labor, capital, and entrepreneurship used to produce goods and services 
 
Land - Answer the physical location where production occurs. Includes bodies of water as well as resources extracted from the ...
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IB Economics Diagrams for Exam Prep |UPDATED|
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IB Economics Diagrams for Exam Prep 
|UPDATED| 
Negative Externalities 
The government will increase MPC to match MSC. 
Effects of indirect taxes on consumer and producer surplus 
Market Demand 
Movement on curve vs. shift of curve (demand/supply same concept) 
Market supply 
Market equilibrium 
Consumer/producer surplus in competitive market 
How does a change in demand single price change? 
Inelastic PEDcurve 
Elastic PED curve 
Unit elasticity (PED=1) 
Varying PED along a demand curve 
As yo...
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ALL IB Economics SL Terms
- Exam (elaborations) • 25 pages • 2023
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ALL IB Economics SL Terms 
Absolute poverty - ANS-The inability of an individual or a family to afford a basic 
standard of goods and services, where the standard is absolute and unchanging over 
time. Absolute poverty is defined in relation to a nationally or internationally determined 
'poverty line', which determines the minimum income that can sustain a family in terms 
of its basic needs. 
Actual output - ANS-The quantity of output actually produced by an economy. 
Ad Valorem Taxes - ...
And that's how you make extra money
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IB Economics HL 2023
- Exam (elaborations) • 9 pages • 2023
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IB Economics HL 2023 
Ceteris paribus - ANS-all other things are being held equal 
positive economics - ANS-matters of economics that can be proven to be right or wrong 
by looking at the facts 
normative economics - ANS-matters of economics that are based upon opinion and so 
are incapable of being proven to be right or wrong 
scarcity - ANS-the limited availability of economic resources relative to societys 
unlimited demand for goods and services 
land - ANS-the physical factor of producti...
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IB Economics, Real World Examples Unit 1 (Introduction to Economics) & Unit 2 (Microeconomics) for Paper 1
- Summary • 8 pages • 2022
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Complete list of real world examples covering the whole unit 1 and 2 of the IB HL Economics course. Excellent to use in Paper 1, for the 15-mark question, that requires to include examples from the real world. The document is divided in 2 main units: Introduction to Economics and Microeconomics. It then offers examples for all topics. The document was written in 2022, so most examples are very current (including Brexit and Covid), while others are more historical (1973 oil embargo and DeBeer's m...
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IB ECONOMICS – DEVELOPMENT QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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IB ECONOMICS – DEVELOPMENT QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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IB ECONOMICS HL QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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IB ECONOMICS HL QUESTIONS AND ANSWERS WITH SOLUTIONS 2024
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IB Economics HL 2023
- Exam (elaborations) • 9 pages • 2023
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IB Economics HL 2023 
Ceteris paribus - ANS-all other things are being held equal 
positive economics - ANS-matters of economics that can be proven to be right or wrong 
by looking at the facts 
normative economics - ANS-matters of economics that are based upon opinion and so 
are incapable of being proven to be right or wrong 
scarcity - ANS-the limited availability of economic resources relative to societys 
unlimited demand for goods and services 
land - ANS-the physical factor of producti...
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