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Flashcards for 1.1.2 The Problem of Choice - IB

IB
1.1.2 The Problem of Choice

IB Economics 1.1.2 the Problem of Choice Flashcards

Written by official IB examiners

Flashcards for 1.1.2 The Problem of Choice

Flashcards for 1.1.2 The Problem of Choice - IB

These interactive flashcards help IB Economics students Standard Level (SL) and Higher Level (HL) quickly review and memorize the essential definitions, formulas, and terms needed for success in IB Exams.

Each card focuses on 1.1.2 The Problem of Choice and is aligned with the IB Economics syllabus, ensuring focused revision on microeconomics, macroeconomics, and international trade.

Students can test themselves anytime, anywhere, perfect for reinforcing tricky concepts, learning IB terminology, and committing formulas to memory.

By using RevisionDojo's flashcards consistently, learners turn repetition into mastery and enter the exam with confidence.

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A country transitions from a planned economy to a free market economy. Predict the effect on (a) consumer choice and (b) income inequality.

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Consumer choice increases because consumer sovereignty drives what is produced.
Income inequality increases because wages and profits are determined by market forces rather than state control.

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