Report an issue

FeaturesSubjectsPricing Schools

Loading subject…

1.1 What Is Economics?

1.2 How Do Economists Approach the World?

2.1 Demand

2.2 Supply

2.3 Competitive Market Equilibrium

2.4 Critique of the Maximizing Behaviour of Consumers and Producers (HL Only)

2.5 Elasticities of Demand

2.6 Elasticity of Supply

2.7 Role of Government in Microeconomics

2.8 Market Failure - Externalities, Common Pool Resources, Public Goods, Asymmetric Information

2.9 Market Failure - Public Goods

2.10 Market Failure - Asymmetric Information (HL Only)

2.11 Market Failure - Market Power (HL Only)

2.12 The Market’s Inability to Achieve Equity (HL Only)

3.1 Measuring Economic Activities

3.2 Variations in Economic Activity - Aggregate Demand and Aggregate Supply

3.3 Macroeconomic Objectives

3.4 Economics of Inequality and Poverty

3.5 Demand Management - Monetary Policy

3.6 Demand Management - Fiscal Policy

3.7 Supply Side Policies

4.1 Benefits of International Trade

4.2 Types of Trade Protection

4.3 Arguments For and Against Trade Protection

4.4 Economic Integration

4.5 Exchange Rates

4.6 Balance of Payments

4.7 Sustainable Development

4.8 Measuring Development

4.9 Barriers to Economic Growth and Economic Development

4.10 Economic Growth and Economic Development Strategies

IB
3.4.10 Further Policies to Reduce Poverty, Income and Wealth Inequality

IB Economics 3.4.10 Further Policies to Reduce Poverty, Income and Wealth Inequality Key Definitions

3.4.10 Further Policies to Reduce Poverty, Income and Wealth Inequality Key Definitions

Definition

Human capital

Skills, abilities, good health, and knowledge utilized by people to increase their productivity.

Definition

Merit Good

Goods that are desirable by society but are under provided by the market.

Definition

Transfer payments

Transfer payments are redistributions of income by the government to individuals or households without any exchange of goods or services.

Definition

Universal Basic Income

Universal Basic Income (UBI) is a policy where the government provides a fixed amount of money to every citizen, regardless of their income or employment status.

Key Definitions