Activities
Signalling and incentive functions of price and maximum price
Questions Answers Across the world, people are going to be affected by increasing world food prices. The war in Ukraine has put a significant constraint on the supply of its major agricultural exports...
Activities
Perfect competition and changes in demand
The growing number of people becoming adopting a plant-based diet and changing tastes in the milk market is an increasing challenge to the dairy industry in many countries. The US, like many countries,...
Activities
Opportunity cost and production possibility curves
A potential military conflict in Ukraine will come with costs for all those, directly and indirectly, affected by a war situation. To examine the costs involved in a war, it is interesting to examine...
Activities
Units 1 and 2 Microeconomics
This section of Economics extension material focuses on microeconomics. It looks at market theory, elasticity, government intervention in markets and market failure. ...
Activities
Economics extension material
The Economics extension material section also allows students to take different aspects of the IB Economics course and develop them further, and fully explore economic theories, ideas and issues. Whilst...
Activities
Inflation
The US rate of inflation reached 7 per cent on Thursday 13 January – the highest it has been for 40 years. From a low of 1.4 per cent in January 2021 the US inflation rate has increased each month this...
Activities
Paper 1 real-world example: The impact of a depreciating exchange rate
Twenty years ago, the value of the Nigerian Naira was N126 to $1. Today, it is trading at N1626 to $1. That is a depreciation of around 1200%. The Naira depreciated steadily over the last twenty years,...
Activities
Paper 1 real-world example: Balance of payments
India's balance of payments current deficit is forecast to increase to a $120 billion deficit this year. The country’s current account deficit is now 3% of GDP which puts it close to the US which has...
Activities
Paper 1 real-world example: Administrative barriers to trade
Trade protection through the use of tariffs is well covered in the news. It is important to look at another form of trade protectionism, often called ‘non-tariff’ barriers in the media, or otherwise known...
Activities
Paper 1 real world example: Measuring economic development and the barriers to economic development
If you are a Somalian business or individual one of the challenges, you will face in your everyday life is corruption. According to Transparency International's Corruption Perceptions Index (CPI) for...