Ib econ Study guides, Revision notes & Summaries
Looking for the best study guides, study notes and summaries about Ib econ? On this page you'll find 195 study documents about Ib econ.
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IB Economics HL 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 - Microeconomics Exam 2023
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IB Economics - Microeconomics Exam 2023...
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IB Microeconomics SL/HL Full List of Definitions EXAM REVISION - IB Econ HL (scored 7).pdf
- Summary • 6 pages • 2022
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IB Micro Full list of definitions - I was an IB Econ HL student and managed to score a 7 on my exams with the helps of these notes, I hope they can help you too :)
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IB Economics Key Predicted Exam Questions And Correct Answers
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Social Sciencethe study of people in society and how they interact with each other. 
Economicsthe study of how people use their limited resources to try to satisfy 
unlimited wants. 
Microeconomicsthe study of the economic behaviour of households and firms and 
how prices of goods and services are determined. 
Positive Statementa statement about what is. This is an expression that can be 
verified by observation. 
Normative Statementa statement about what ought to be. This is an expression of...
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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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IB Economics, Real World Examples Unit 3 (Macroeconomics) for Paper 1
- Summary • 4 pages • 2022
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Complete list of real world examples covering the whole unit 3 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 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 monopoly). 
The document originally included all 4 units, so the first page of this docu...
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IB Economics HL 2023, IB economics international economics SL 2023 & ALL IB Economics SL Terms. solved test review 2023 update A+ All in one package deal solution
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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 s
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IB economics international economics SL 2023
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IB economics international economics SL 
2023 
free trade - Answer-trade between countries that has no protectionist policies 
WTO (World Trade Organisation) - Answer-the organisation facilitates and governs 
international trade between all its members 
protectionism - Answer-any policy aimed at protecting domestic producers from imports 
tariff - Answer-a tax on imports 
administrative barriers - Answer-bureaucratic barriers to restrict trade 
national security - Answer-protecting domestic pro...
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IB Economics Top Forecasted Exam Questions And Correct Answers
- Exam (elaborations) • 13 pages • 2024
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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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IB Economics Top Compulsory Exam Questions And Correct Answers
- Exam (elaborations) • 26 pages • 2024
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Scarcity the condition that results from limited resources combined with unlimited 
wants 
Opportunity Cost Cost of the next best alternative use of money, time, or resources 
when one choice is made rather than another 
Factors of Production resources of land, labor, capital, and entrepreneurship used to 
produce goods and services 
Land the physical location where production occurs. Includes bodies of water as well 
as resources extracted from the earth.
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