Hi Mark, First of all, thank you for a fantastic resource. It is incredibly helpful for both me and my students. I was going through some of the multiple-choice questions regarding fundamental economic concepts and noticed a few possible...
Unit 1: Revision quizThank you Thomas, I will remove that.
Demand worksheetGiffen goods had been removed according to this https://thinkib.net/economics/page/20132/units-1-2-microeconomics
Demand worksheetmy bad. thanks!
Setting up student accessYes Harini, because they are drawn different.
Barriers to trade (calculations are HL only)Hi Mark, as per the IB guide export subsidy is included . The diagram for production subsidy and export subsidy differs. Should we focus on both types of subsidies?
Barriers to trade (calculations are HL only)okay thank you
The Marshall-Lerner condition / J curve (HL only)Yes Gray, I think it would, let me change that.
Community surplus additional questionsCorrect Shiba, following the 10% devaluation the volume of exports rises by 15%, so a PED of 1.5. Similarly, import volumes rise by 3%, i.e. a PED 0.3. So PEDx+PEDm is 1.8, meaning net exports increases by 8% if devaluation is 10% and they benefit...
The Marshall-Lerner condition / J curve (HL only)
Mark
Site authorHenrick, I have taken a look at the responses and I think they are correct, specifically: 3. A positive statement is one that cannot be refuted by looking at the evidence, i.e. can be proven or disproven by examining the evidence 5. Equally...
Unit 1: Revision quiz