What might that suggest about the economic problem? Download a copy of the following glossary template and write definitions of the words we have used so far, i.e. everything to and including 'Utility'. Use your textbook for the definitions... never just Google it as you need to learn proper IB definitions!! Soon you will have a 10 word vocabulary test (formative). After you finish that, write a paragraph explaining the economic problem and the three questions which need to be answered by any economic system.
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Economics as a social science
Link to Worksheet The following document is about the difference between positive and normative statements... read it and do the quick exercise at the end.
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March 2021
Maree SpraggonTeacher of IB Economics at the American School of Budapest Categories |