Ib econ - Study guides, Class notes & Summaries

IB Economics Notes Chapter 13-15 Define 'macroeconomics': - The study of a national economy List the five (5) main macroeconomic variables and their objectives - 1)Economic growth - A steady rate of increase of national output 2)Employment - A low level of unemployment 3)Price stability - A low and stable rate of inflation 4)External stability - A favorable balance of payments position 5) Income distribution - An equitable distribution of income Describe how saving is a...

Test Bank for IB Economics Macroeconomics 11th Edition by N. Gregory Mankiw

Scarcity correct answers The central concept in economics, scarcity refers to the limited availability of economic resources relative to society's unlimited demand for goods and services. Choice correct answers Since resources are scarce, economics is a study of choices. It is clear that not all needs and wants can be satisfied; this necessitates choice and gives rise to the idea of opportunity cost. Efficiency correct answers Efficiency is a quantifiable concept, determined by the ratio...

IB Economics Macroeconomics Exam

Ceteris paribus all other things are being held equal positive economics matters of economics that can be proven to be right or wrong by looking at the facts normative economics matters of economics that are based upon opinion and so are incapable of being proven to be right or wrong scarcity the limited availability of economic resources relative to societys unlimited demand for goods and services land the physical factor of production. It consists of natural re...

AQA_AS Economics Paper 2_Question Paper_2019 | ECON 3140_THE NATIONAL ECONOMY IN A GLOBAL CONTEXT AS ECONOMICS Paper 2 The national economy in a global context Thursday 16 May 2019 Morning Time allowed: 1 hour 30 minutes Materials For this paper you must have: • the insert • a calculator. Instructions • Use black ink or black ball-point pen. Pencil should only be used for drawing. • Fill in the boxes at the top of this page. • Answ...

AQA_AS Economics Paper 2_Question Paper_2019 | ECON 3140_THE NATIONAL ECONOMY IN A GLOBAL CONTEXT AS ECONOMICS Paper 2 The national economy in a global context Thursday 16 May 2019 Morning Time allowed: 1 hour 30 minutes Materials For this paper you must have: • the insert • a calculator. Instructions • Use black ink or black ball-point pen. Pencil should only be used for drawing. • Fill in the boxes at the top of this page. • Answ...

Supply-side economic policies are mainly micro- economic policies designed to improve the supply-side potential of an economy, make markets and industries operate more efficiently and thereby contribute to a faster rate of growth of real national output The “supply side” refers to factors affecting the quantity or quality of goods and services produced by an economy such as the level of productivity or investment in research and development. Supply-side policies focus on the productio...

IB Economics HL - graded past papers IB Economics HL - paper 1 (52%) IB Economics HL - paper 1 (88%) IB Economics HL - paper 1 (92%) IB Economics HL - paper 2 (55%) IB Economics HL - paper 2 (75%) IB Economics HL - paper 3 (75%)