Get Grade 10 Economics Examination Guidelines

Paper 1 and 2 have the same format: Section A, multiple choice and short answer questions, Section B, data response questions , and Section C, an essay-style question. Paper 1 tests your know of microeconomics, Theme 1 and Theme 3, whilst Paper 2 tests macroeconomics, Theme 2 and Theme 4.

Grade 12 Economics Micro-economics: Perfect markets, Imperfect markets, Market failure. Economic pursuits: Growth and Development, Industrial development policies, Economic and social performance indicators. Economics issues: Inflation, Tourism, Environmental sustainability.

An economy is a zone of the production, consumption, dispersal, and business of goods and services by diverse economic agencies. Economics focuses on the activities and interplays of economic dealers. Macroeconomics. It determines how assets are allotted to different members of society.

Economics is the study of how individuals, businesses, governments and other organisations within our society choose to use scarce resources to satisfy their numerous needs and wants in a manner that is efficient, equitable and sustainable.

Paper 2 is a data response paper along with a final extended response question (15-mark essay). Students answer one question from a choice of two. Each question is subdivided into seven parts (a–g). The total number of marks is 40.

Topics Economic Pursuits and Contemporary economic issues. Macroeconomics. Microeconomics.

Markets show the producers what they should produce, and how many of that product they should produce. The market forces of supply and demand determine the price of the product – the price that consumers are willing to pay, while still allowing the producers to make sufficient profit.

Economics is the study of scarcity and its implications for the use of resources, production of goods and services, growth of production and welfare over time, and a great variety of other complex issues of vital concern to society.

The Structure of IB Economics Paper 1 Paper 1 is basically an essay. i.e. the examiners for this part of your IB want to see extended responses. The duration of the assessment is 1 hour and 15 minutes regardless of your Level, plus you will have 5 minutes to read the questions.