File "inequity.html"
Path: /ThinkIB/bm_econ/economics/page/41639/inequityhtml
File size: 115.43 KB
MIME-type: text/html
Charset: utf-8
<!DOCTYPE html>
<html lang="en">
<head>
<!-- Google Tag Manager -->
<script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':
new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],
j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src=
'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);
})(window,document,'script','dataLayer','GTM-K5VSFSN');
</script>
<!-- End Google Tag Manager -->
<meta http-equiv="x-ua-compatible" content="IE=Edge"/>
<title>DP Economics: Inequity</title>
<meta charset="utf-8" />
<meta name="viewport" content="width=device-width, initial-scale=1.0" />
<meta name="robots" content="none" /><meta name="robots" content="noindex, nofollow" />
<base href="https://www.student.thinkib.net" /><meta name="keywords" content="Economics, ThinkIB.net, InThinking, IB, IBDP, IBMYP" /><meta name="description" content="Inequity. ThinkIB.net Economics is an InThinking website." />
<link href="css/bootstrap.min.css" rel="stylesheet" media="screen" />
<link href="css/font-awesome-4.7.0/css/font-awesome.min.css" rel="stylesheet">
<link href="/css/top-nav.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link href="/css/style.min.css?v=202308071530" rel="stylesheet" media="screen" />
<link href="/css/style-ib.min.css?v=202305221900" rel="stylesheet" media="screen" />
<link rel="stylesheet" type="text/css" href="/js/jq-fancybox/jquery.fancybox.min.css">
<link href="js/jq-fancybox/jquery.fancybox.min.css" type="text/css" rel="stylesheet">
<link rel="stylesheet" href="/css/side-nav.min.css?v=202305221900" /><link rel="stylesheet" href="/assets/css/ckeditor5-custom.css" type="text/css"><link rel="stylesheet" href="/css/std-access.min.css?v=202305221900" /><link rel="stylesheet" href="/css/snippets.min.css?v=202305221900" /><link rel="stylesheet" href="/css/article.min.css?v=2023061230" /><script src="/js/localdates.min.js?v=202009290900"></script><script src="/js/ifvisible.min.js"></script><script>ifvisible.setIdleDuration(300);</script><script>var tibSitename = "economics";</script>
<script>
const SITE_TAG = "ib"
const SITE_WEB = "ThinkIB.net"
const SITE_DOMAIN = "www.thinkib.net"
const SITE_URI = "https://thinkib.net"
const SITE_CLIENT_CODE = "TIB000001"
let imageThinker = "https://assets.inthinking.net/thinkib/header-thinker-ib.svg";
let imageStudent = "https://assets.inthinking.net/thinkib/header-student-thinkib.svg";
</script>
<script>var userHash = "1164ffdb5b0fa1709243f22ebefcb0a3", userTicket = "fd6a5e8a06cfccf2";</script><script src="/js/user/local-stats.min.js?v=202102101800"></script><link rel="apple-touch-icon-precomposed" sizes="57x57" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-57x57.png" /><link rel="apple-touch-icon-precomposed" sizes="114x114" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-114x114.png" /><link rel="apple-touch-icon-precomposed" sizes="72x72" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-72x72.png" /><link rel="apple-touch-icon-precomposed" sizes="144x144" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-144x144.png" /><link rel="apple-touch-icon-precomposed" sizes="60x60" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-60x60.png" /><link rel="apple-touch-icon-precomposed" sizes="120x120" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-120x120.png" /><link rel="apple-touch-icon-precomposed" sizes="76x76" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-76x76.png" /><link rel="apple-touch-icon-precomposed" sizes="152x152" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/apple-touch-icon-152x152.png" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-196x196.png" sizes="196x196" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-96x96.png" sizes="96x96" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-32x32.png" sizes="32x32" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-16x16.png" sizes="16x16" /><link rel="icon" type="image/png" href="https://assets.inthinking.net/thinkib/favicon/student-thinkib/favicon-128.png" sizes="128x128" /><meta name="application-name" content=" "/><meta name="msapplication-TileColor" content="#FFFFFF" /><meta name="msapplication-TileImage" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-144x144.png" /><meta name="msapplication-square70x70logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-70x70.png" /><meta name="msapplication-square150x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-150x150.png" /><meta name="msapplication-wide310x150logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x150.png" /><meta name="msapplication-square310x310logo" content="https://assets.inthinking.net/thinkib/favicon/student-thinkib/mstile-310x310.png" />
</head>
<body onunload="" class="student-access">
<!-- Google Tag Manager (noscript) -->
<noscript><iframe src="https://www.googletagmanager.com/ns.html?id=GTM-K5VSFSN"
height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript>
<!-- End Google Tag Manager (noscript) -->
<div id="header">
<div class="wmap">
<div class="layout-wrapper">
<div class="container-fluid">
<div class="pull-right visible-phone">
<a href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 45px; width: auto">
</a>
</div>
<div class="visible-phone" style="clear:both;"></div>
<div class="pull-left">
<h1><a href="/economics?lg=50735"><span style="font-size: .8em;">IBDP Economics - Student pages</span></a></h1>
<p class="slogan hidden-phone"><span class="slogan"><em>InThinking</em> Subject Sites for teachers & their classes</span></p>
<p class="hidden-phone"><em>Group: <br>Teacher: </em></p>
</div>
<div class="pull-right text-right">
<a class="hidden-phone" href="https://www.inthinking.net">
<img src="https://assets.inthinking.net/thinkib/header-logo.svg" style="height: 70px; width: auto">
</a>
<div class="search"><a href="#" class="toggle-menu-search" data-toggle="dropdown" title="Search"><i class="fa fa-2x fa-search"></i></a></div>
</div>
</div>
</div>
</div>
</div>
<div id="topmenu">
<div class="layout-wrapper">
<div>
<nav class="top-nav"><ul class="level-0"><li><a href="https://www.student.thinkib.net/economics?lg=50735"><i class="fa fa-home"></i> Home</a></li><li ><a href="https://www.student.thinkib.net/economics/page/20131/start-here">Start here</a></li><li ><a href="https://www.student.thinkib.net/economics/page/27378/the-ib-core">The IB core</a></li><li class="selected"><a href="https://www.student.thinkib.net/economics/page/32112/textbook">Textbook</a></li><li ><a href="https://www.student.thinkib.net/economics/page/20132/units-1-2-microeconomics">Units 1-2: Microeconomics</a></li><li ><a href="https://www.student.thinkib.net/economics/page/21842/unit-3-macroeconomics-">Unit 3: Macroeconomics </a></li><li ><a href="https://www.student.thinkib.net/economics/page/21844/unit-4-global-economy">Unit 4: Global economy</a></li><li ><a href="https://www.student.thinkib.net/economics/page/21380/assessment">Assessment</a></li><li ><a href="https://www.student.thinkib.net/economics/page/4332/exam-style-questions">Exam style questions</a></li></ul></nav>
</div>
</div>
</div>
<nav id="nav-menu-search" class="shadow-md" style="display: none;">
<div class="layout-wrapper">
<form class="form-inline" role="search" method="get" action="economics/search">
<input id="nav-search" name="s" type="search" placeholder="Search Economics..." value="">
<button class="btn btn-sm btn-primary" type="submit">
Search
</button>
<a href="#" class="toggle-menu-search" title="Close">
<i class="fa fa-lg fa-times gray"></i>
</a>
</form>
</div>
</nav>
<div class="layout-wrapper">
<div id="container" class="container-fluid">
<div id="content">
<div class="row-fluid">
<div id="left-column" class="span3"> <div id="userbox">
<div class="dropdown" style="display: flex; align-items: center;">
<a href="#" data-toggle="dropdown" class="dropdown-toggle btn">
<img style="width: 16px; height: 16px; margin: -2px 0 0 0;" src="https://assets.inthinking.net/thinkib/user/generic/32-generic-user.png">
IB Docs (2) Team <i class="fa fa-caret-down"></i>
</a>
<ul class="dropdown-menu" id="menu1">
<li class="dropdown-submenu"><a href="#" data-toggle="dropdown" class="dropdown-toggle"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Business Management</a><ul class="dropdown-menu" style="padding: 0; border-radius: 3px; margin-left: -4px; margin-top: -1px;"><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51189"><i class="fa fa-group gray fixwidth"></i> 1</a></li><li><a href="https://www.student.thinkib.net/businessmanagement?lg=51192"><i class="fa fa-group gray fixwidth"></i> 2</a></li></ul></li><li><a href="https://www.student.thinkib.net/economics?lg=50735"><i class="fa fa-caret-right fixwidth gray"></i> IBDP Economics</a></li><li class="divider"></li><li><a href="https://www.student.thinkib.net"><i class="fa fa-dashboard fixwidth colored"></i> Dashboard</a></li><li><a href="https://www.student.thinkib.net/?pan=tasks"><i class="fa fa-pencil fixwidth colored"></i> All tasks</a></li><li><a href="https://www.student.thinkib.net/std/profile-editor"><i class="fa fa-user fixwidth colored"></i> My profile</a></li>
<li class="divider"></li>
<li>
<a href="https://www.student.thinkib.net?logout=1">
<i class="fa fa-power-off fixwidth"></i> Log out
</a>
</li>
</ul>
</div>
</div><div style="margin: 20px 0;"><a href="https://www.student.thinkib.net/economics/sitemap" class="btn btn-default btn-block"><i class="fa fa-sitemap fixwidth colored"></i>Sitemap</a></div><div id="topicsnav" style="margin: 0; padding: 0px;"> <div class="row-fluid accordion-group" style="border: 0px; margin-bottom: 0px;"> <div style="padding: 6px 4px 6px 8px; background: #204a87;"> <a class="accordion-toggle std-header" style="color: #fff; text-shadow: 1px 1px 1px #444; padding: 0px; text-decoration: none; font-size: 16px; font-weight: 400;" data-toggle="collapse" data-parent="#topicsnav" href="#side-box-topics-list"> <i class="fa fa-caret-right fa-rotate-90 white" style="margin-left: 4px;"></i> Topics </a> <span id="sidetreecontrol"> <a title="Collapse all" rel="collapse" href="#"> <i class="fa fa-minus-circle"></i> </a> <a title="Expand all" rel="expand" href="#"> <i class="fa fa-plus-circle"></i> </a> </span> </div> <div id="side-box-topics-list" class="accordion-body in collapse"> <div class="accordion-inner" style="line-height: 1.7em; padding: 0;"> <nav class="side-nav" id="sidemenu"><ul class="level-0 always-expanded"><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20131/start-here" title="Start here">Start here</a></li><ul class="level-1 "><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/46026/getting-started-for-students" title="Getting started for students">Getting started for students</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45198/predicted-grade-calculator" title="Predicted grade calculator">Predicted grade calculator</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Using the student access on the site ">Using the student access on the site </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32021/giving-students-access-to-the-inthinking-site" title="Giving students access to the Inthinking site">Giving students access to the Inthinking site</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20150/recommended-reading-" title="Recommended reading ">Recommended reading </a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Economics games">Economics games</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26967/activities-and-simulations" title="Activities and simulations">Activities and simulations</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41381/crosswords" title="Crosswords">Crosswords</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Old curriculum resources">Old curriculum resources</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29986/price-discrimination-old-syllabus-hl" title="Price discrimination (old syllabus) HL">Price discrimination (old syllabus) HL</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/27378/the-ib-core" title="The IB core">The IB core</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/1583/extended-essay" title="Extended essay">Extended essay</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/27917/the-5-year-rule-in-economics-" title="The 5 year rule in economics ">The 5 year rule in economics </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21411/using-the-ee-markbands-" title="Using the EE markbands ">Using the EE markbands </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21412/focus-on-the-criteria-" title="Focus on the criteria ">Focus on the criteria </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20780/extended-essay-checklist" title="Extended essay checklist">Extended essay checklist</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20786/exemplar-extended-essay-" title="Exemplar extended essay ">Exemplar extended essay </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20819/annotated-extended-essay-sample-1-grading-criteria" title="Annotated extended essay sample 1 (grading criteria)">Annotated extended essay sample 1 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36082/annotated-extended-essay-sample-1" title="Annotated extended essay sample 1">Annotated extended essay sample 1</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36110/annotated-extended-essay-sample-1-grading-criteria" title="Annotated extended essay sample 1 (grading criteria)">Annotated extended essay sample 1 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20792/annotated-extended-essay-sample-2" title="Annotated extended essay sample 2">Annotated extended essay sample 2</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20820/annotated-extended-essay-sample-2-grading-criteria" title="Annotated extended essay sample 2 (grading criteria)">Annotated extended essay sample 2 (grading criteria)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26701/annotated-extended-essay-sample-3" title="Annotated extended essay sample 3">Annotated extended essay sample 3</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26702/annotated-extended-essay-sample-3-grading-criteria" title="Annotated extended essay sample 3 (grading criteria)">Annotated extended essay sample 3 (grading criteria)</a></li></ul></ul></ul><li class="ancestor parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/economics/page/32112/textbook" title="Textbook">Textbook</a></li><ul class="level-1 expanded"><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33061/contents-page" title="Contents page">Contents page</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/37990/textbook-approach-to-the-new-ib-economics-examination-specificat" title="Textbook approach to the new IB Economics examination specification">Textbook approach to the new IB Economics examination specification</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33060/chapter-1-introduction-to-economics" title="Chapter 1: Introduction to Economics">Chapter 1: Introduction to Economics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32395/unit-11-introduction-to-economics" title="Unit 1.1: Introduction to Economics">Unit 1.1: Introduction to Economics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32541/unit-12-how-do-economists-approach-the-world" title="Unit 1.2: How do economists approach the world?">Unit 1.2: How do economists approach the world?</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33063/chapter-2-microeconomics" title="Chapter 2: Microeconomics">Chapter 2: Microeconomics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32533/unit-21-demand-theory" title="Unit 2.1: Demand theory">Unit 2.1: Demand theory</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32555/unit-22-supply-theory" title="Unit 2.2: Supply theory">Unit 2.2: Supply theory</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32567/unit-23-competitive-market-equilibrium" title="Unit 2.3: Competitive market equilibrium">Unit 2.3: Competitive market equilibrium</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32575/unit-241-behavioural-economics-hl" title="Unit 2.4(1): Behavioural economics (HL)">Unit 2.4(1): Behavioural economics (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32798/unit-242-business-objectives-hl" title="Unit 2.4(2): Business objectives (HL)">Unit 2.4(2): Business objectives (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32663/unit-251-price-elasticity-of-demand-ped" title="Unit 2.5(1): Price elasticity of demand (PED)">Unit 2.5(1): Price elasticity of demand (PED)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32788/unit-252-income-elasticity-of-demand-yed-" title="Unit 2.5(2): Income elasticity of demand (YED) ">Unit 2.5(2): Income elasticity of demand (YED) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32789/unit-26-price-elasticity-of-supply-pes-" title="Unit 2.6: Price elasticity of supply (PES) ">Unit 2.6: Price elasticity of supply (PES) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33388/unit-271-governments-in-markets-tax-and-subsidy-" title="Unit 2.7(1): Governments in markets - tax and subsidy ">Unit 2.7(1): Governments in markets - tax and subsidy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33424/unit-272-governments-in-markets-price-controls" title="Unit 2.7(2): Governments in markets - price controls">Unit 2.7(2): Governments in markets - price controls</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33665/unit-281-market-failure-externalities" title="Unit 2.8(1): Market failure – externalities">Unit 2.8(1): Market failure – externalities</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/33808/unit-282-market-failure-merit-goods-and-demerit-goods-" title="Unit 2.8(2): Market failure - merit goods and demerit goods ">Unit 2.8(2): Market failure - merit goods and demerit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34054/unit-283-government-intervention-to-manage-externalities-merit-a" title="Unit 2.8(3): Government intervention to manage externalities, merit and demerit goods ">Unit 2.8(3): Government intervention to manage externalities, merit and demerit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34082/unit-284-common-access-pool-resources" title="Unit 2.8(4): Common access (pool) resources">Unit 2.8(4): Common access (pool) resources</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34087/unit-29-public-goods" title="Unit 2.9: Public goods">Unit 2.9: Public goods</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34247/unit-210-asymmetric-information-hl" title="Unit 2.10: Asymmetric information (HL)">Unit 2.10: Asymmetric information (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35118/unit-2111-market-power-theory-of-production-and-costs-hl" title="Unit 2.11(1) Market power - Theory of production and costs (HL)">Unit 2.11(1) Market power - Theory of production and costs (HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35125/unit-2112-market-power-perfect-competitionhl" title="Unit 2.11(2) Market power - Perfect competition(HL)">Unit 2.11(2) Market power - Perfect competition(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35147/unit-2113-market-power-monopolyhl" title="Unit 2.11(3) Market power - Monopoly(HL)">Unit 2.11(3) Market power - Monopoly(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35151/unit-2114-market-power-monopolistic-competitionhl" title="Unit 2.11(4) Market power - Monopolistic competition(HL)">Unit 2.11(4) Market power - Monopolistic competition(HL)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35153/unit-2115-market-power-oligopolyhl" title="Unit 2.11(5) Market power - Oligopoly(HL)">Unit 2.11(5) Market power - Oligopoly(HL)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41603/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43378/opportunity-cost-and-production-possibility-curves" title="Opportunity cost and production possibility curves">Opportunity cost and production possibility curves</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42559/demand-theory" title="Demand theory">Demand theory</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41886/the-price-mechanism" title="The price mechanism">The price mechanism</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43188/market-demand-and-supply" title="Market demand and supply">Market demand and supply</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41705/demerit-goods" title="Demerit goods">Demerit goods</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42275/market-failure-and-climate-change" title="Market failure and climate change">Market failure and climate change</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42925/market-power" title="Market power">Market power</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42099/applying-game-theory" title="Applying game theory">Applying game theory</a></li></ul></ul><li class="ancestor parent" style="padding-left: 14px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/economics/page/34407/chapter-3-macroeconomics" title="Chapter 3: Macroeconomics">Chapter 3: Macroeconomics</a></li><ul class="level-2 expanded"><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34355/unit-311-measuring-the-level-of-economic-activity" title="Unit 3.1(1): Measuring the level of economic activity">Unit 3.1(1): Measuring the level of economic activity</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34432/unit-312-measuring-economic-development" title="Unit 3.1(2): Measuring Economic Development">Unit 3.1(2): Measuring Economic Development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34485/unit-321-variations-in-economic-activity-aggregate-demand-ad-" title="Unit 3.2(1): Variations in economic activity - aggregate demand (AD) ">Unit 3.2(1): Variations in economic activity - aggregate demand (AD) </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34487/unit-322-variations-in-economic-activity-aggregate-supplyas" title="Unit 3.2(2): Variations in economic activity - aggregate supply(AS)">Unit 3.2(2): Variations in economic activity - aggregate supply(AS)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34758/unit-331-macroeconomic-objectives-economic-growth" title="Unit 3.3(1) Macroeconomic objectives: economic growth">Unit 3.3(1) Macroeconomic objectives: economic growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34771/unit-332-macroeconomic-objectives-unemployment-" title="Unit 3.3(2) Macroeconomic objectives: unemployment ">Unit 3.3(2) Macroeconomic objectives: unemployment </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34778/unit-333-macroeconomic-objectives-inflation-and-deflation-" title="Unit 3.3(3) Macroeconomic objectives: inflation and deflation ">Unit 3.3(3) Macroeconomic objectives: inflation and deflation </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34925/unit-341-economics-of-inequality-and-poverty" title="Unit 3.4(1) Economics of inequality and poverty">Unit 3.4(1) Economics of inequality and poverty</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34946/unit-342-policies-to-improve-equality-equity-and-poverty" title="Unit 3.4(2) Policies to improve equality, equity and poverty">Unit 3.4(2) Policies to improve equality, equity and poverty</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34993/unit-35-government-management-of-the-economy-monetary-policy" title="Unit 3.5 Government management of the economy – monetary policy">Unit 3.5 Government management of the economy – monetary policy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/34962/unit-36-government-management-of-the-economy-fiscal-policy" title="Unit 3.6 Government management of the economy – fiscal policy">Unit 3.6 Government management of the economy – fiscal policy</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35017/unit-371-market-based-supply-side-policies-" title="Unit 3.7(1) Market based supply-side policies ">Unit 3.7(1) Market based supply-side policies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35018/unit-372-interventionist-supply-side-policies-" title="Unit 3.7(2) Interventionist supply-side policies ">Unit 3.7(2) Interventionist supply-side policies </a></li><li class="ancestor parent" style="padding-left: 28px"><i class="expander fa fa-caret-right fa-rotate-90"></i><a class="" href="https://www.student.thinkib.net/economics/page/45803/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 expanded"><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42639/measuring-economic-well-being" title="Measuring economic well-being">Measuring economic well-being</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43044/inflation" title="Inflation">Inflation</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42350/inequality" title="Inequality">Inequality</a></li><li class="current" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41639/inequity" title="Inequity">Inequity</a></li></ul></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35414/chapter-4-the-global-economy" title="Chapter 4: The Global Economy">Chapter 4: The Global Economy</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35346/unit-41-benefits-of-international-trade" title="Unit 4.1 Benefits of international trade">Unit 4.1 Benefits of international trade</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35348/unit-4243-trade-protectionism" title="Unit 4.2/4.3 Trade protectionism">Unit 4.2/4.3 Trade protectionism</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35407/unit-44-economic-integration-" title="Unit 4.4 Economic integration ">Unit 4.4 Economic integration </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35409/unit-45-exchange-rates" title="Unit 4.5 Exchange rates">Unit 4.5 Exchange rates</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35413/unit-46-balance-of-payments-" title="Unit 4.6 Balance of payments ">Unit 4.6 Balance of payments </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35675/unit-47-sustainable-development" title="Unit 4.7 Sustainable development">Unit 4.7 Sustainable development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35685/unit-48-measuring-development-" title="Unit 4.8 Measuring development ">Unit 4.8 Measuring development </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35687/unit-49-barriers-to-economic-development" title="Unit 4.9 Barriers to economic development">Unit 4.9 Barriers to economic development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/35702/unit-410-economic-growth-and-economic-development-strategies" title="Unit 4.10: Economic growth and economic development strategies">Unit 4.10: Economic growth and economic development strategies</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45804/economics-real-world-examples-and-extension-material-" title="Economics real world examples and extension material ">Economics real world examples and extension material </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41927/foreign-currency" title="Foreign currency">Foreign currency</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43532/exchange-rates" title="Exchange rates">Exchange rates</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/43804/balance-of-payments" title="Balance of payments">Balance of payments</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41796/economic-development" title="Economic development">Economic development</a></li></ul></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20132/units-1-2-microeconomics" title="Units 1-2: Microeconomics">Units 1-2: Microeconomics</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Unit 1: Introduction to economics">Unit 1: Introduction to economics</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20091/introductory-activity" title="Introductory activity">Introductory activity</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20093/unit-11-scarcity-choice-and-opportunity-cost" title="Unit 1.1: Scarcity, choice and opportunity cost">Unit 1.1: Scarcity, choice and opportunity cost</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21647/factors-of-production" title="Factors of production">Factors of production</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20114/economic-systems" title="Economic systems">Economic systems</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20134/public-and-private-sectors" title="Public and private sectors">Public and private sectors</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28055/unit-12-economics-as-a-social-science" title="Unit 1.2: Economics as a social science">Unit 1.2: Economics as a social science</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29921/circular-flow-of-national-income" title="Circular flow of national income">Circular flow of national income</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29829/unit-1-review-terms" title="Unit 1: Review terms">Unit 1: Review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/41600/introduction-to-economics-crossword" title="Introduction to economics crossword">Introduction to economics crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/4331/unit-1-multiple-choice-quiz" title="Unit 1: Multiple choice quiz">Unit 1: Multiple choice quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20177/unit-21-23-competitive-markets-demand-and-supply" title="Unit 2.1-2.3: Competitive markets - demand and supply">Unit 2.1-2.3: Competitive markets - demand and supply</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28517/unit-21-demand" title="Unit 2.1: Demand">Unit 2.1: Demand</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22349/determinants-of-demand" title="Determinants of demand">Determinants of demand</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29949/unit-22-supply-" title="Unit 2.2: Supply ">Unit 2.2: Supply </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20184/changes-to-supply-and-demand-" title="Changes to supply and demand ">Changes to supply and demand </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21992/practise-exercises" title="Practise exercises">Practise exercises</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26112/gold-exchange-game-demand-and-supply" title="Gold exchange game: Demand and supply">Gold exchange game: Demand and supply</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20194/unit-23-competitive-market-equilibrium" title="Unit 2.3: Competitive market equilibrium">Unit 2.3: Competitive market equilibrium</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20144/producer-and-consumer-surplus" title="Producer and consumer surplus">Producer and consumer surplus</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22351/veblen-goods-and-super-luxury-goods" title="Veblen goods and super luxury goods">Veblen goods and super luxury goods</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25677/are-cryptocurrencies-the-new-tulipmania" title="Are Cryptocurrencies the new Tulipmania?">Are Cryptocurrencies the new Tulipmania?</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20472/unit-21-23-multiple-choice-quiz" title="Unit 2.1-2.3: Multiple choice quiz">Unit 2.1-2.3: Multiple choice quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20113/unit-24-consumer-and-producer-behaviour-hl-only" title="Unit 2.4: Consumer and producer behaviour (HL only)">Unit 2.4: Consumer and producer behaviour (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/36073/behavioural-economics-consumer-biases-nudge-theory-hl-only" title="Behavioural economics: Consumer biases / nudge theory (HL only)">Behavioural economics: Consumer biases / nudge theory (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20378/business-objectives-hl-only" title="Business objectives (HL only)">Business objectives (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28741/unit-21-24-review-terms-" title="Unit 2.1-2.4: Review terms ">Unit 2.1-2.4: Review terms </a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20195/unit-25-26-elasticity" title="Unit 2.5-2.6: Elasticity">Unit 2.5-2.6: Elasticity</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/28713/unit-25-price-elasticity-of-demand" title="Unit 2.5: Price elasticity of demand">Unit 2.5: Price elasticity of demand</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21545/determinants-of-price-elasticity-" title="Determinants of price elasticity ">Determinants of price elasticity </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21532/ped-elasticity-and-sales-revenue" title="PED elasticity and sales revenue?">PED elasticity and sales revenue?</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21259/unit-25-income-elasticity-of-demand-yed" title="Unit 2.5: Income elasticity of demand (YED)">Unit 2.5: Income elasticity of demand (YED)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21200/unit-26-price-elasticity-of-supply" title="Unit 2.6: Price elasticity of supply">Unit 2.6: Price elasticity of supply</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20207/perfectly-elastic-inelastic-supply-curves" title="Perfectly elastic / inelastic supply curves">Perfectly elastic / inelastic supply curves</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20230/a-mathematical-note-about-elasticity-" title="A mathematical note about elasticity ">A mathematical note about elasticity </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39037/demand-and-supply-crossword" title="Demand and supply crossword">Demand and supply crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29021/unit-25-26-review-terms" title="Unit 2.5-2.6: Review terms">Unit 2.5-2.6: Review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20474/unit-25-26-multiple-choice-quiz-" title="Unit 2.5-2.6: Multiple choice quiz ">Unit 2.5-2.6: Multiple choice quiz </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44474/unit-21-25-competitive-markets-quiz" title="Unit 2.1- 2.5: Competitive markets quiz">Unit 2.1- 2.5: Competitive markets quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20243/unit-27-the-role-of-government-in-microeconomics-" title="Unit 2.7: The role of government in microeconomics ">Unit 2.7: The role of government in microeconomics </a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26590/indirect-taxation" title="Indirect taxation">Indirect taxation</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20246/ped-and-the-burden-of-tax-hl-only-" title="PED and the burden of tax (HL only) ">PED and the burden of tax (HL only) </a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20277/government-subsidies-" title="Government subsidies ">Government subsidies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29117/unit-27-indirect-tax-and-subsidy-review-terms" title="Unit 2.7: Indirect tax and subsidy review terms">Unit 2.7: Indirect tax and subsidy review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20287/price-controls-maximum-price-" title="Price controls − maximum price ">Price controls − maximum price </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20288/minimum-price-" title="Minimum price ">Minimum price </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21540/minimum-wage-" title="Minimum wage ">Minimum wage </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/38849/labour-market-crossword" title="Labour market crossword">Labour market crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29260/unit-27-price-controls-review-terms" title="Unit 2.7: Price controls review terms">Unit 2.7: Price controls review terms</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20303/unit-28-210-market-failure-" title="Unit 2.8-2.10: Market failure ">Unit 2.8-2.10: Market failure </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21543/unit-28-merit-goods-" title="Unit 2.8: Merit goods ">Unit 2.8: Merit goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/23123/unit-28-demerit-goods-negative-externalities" title="Unit 2.8: Demerit goods / negative externalities">Unit 2.8: Demerit goods / negative externalities</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/38850/market-failure-crossword" title="Market failure crossword">Market failure crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29262/unit-29-economics-of-the-environment-and-public-goods-" title="Unit 2.9: Economics of the environment and public goods ">Unit 2.9: Economics of the environment and public goods </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20332/unit-210-asymmetric-information-hl-only" title="Unit 2.10: Asymmetric information (HL only)">Unit 2.10: Asymmetric information (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29828/unit-28-210-market-failure-review-sheet" title="Unit 2.8-2.10: Market failure review sheet">Unit 2.8-2.10: Market failure review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29827/unit-28-210-market-failure-review-terms" title="Unit 2.8-2.10: Market failure review terms">Unit 2.8-2.10: Market failure review terms</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20479/unit-27-210-multiple-choice-quiz-" title="Unit 2.7-2.10: Multiple choice quiz ">Unit 2.7-2.10: Multiple choice quiz </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44501/unit-27-210-government-failure-revision-quiz" title="Unit 2.7-2.10 Government failure revision quiz">Unit 2.7-2.10 Government failure revision quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20330/unit-211-market-power-hl-only" title="Unit 2.11: Market power (HL only)">Unit 2.11: Market power (HL only)</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29835/assessment-map" title="Assessment map">Assessment map</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21528/production-hl-only" title="Production (HL only)">Production (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29978/revenue-theory-hl-only" title="Revenue theory (HL only)">Revenue theory (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20357/costs-of-production-hl-only" title="Costs of production (HL only)">Costs of production (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21286/economies-and-diseconomies-of-scale-hl-only" title="Economies and diseconomies of scale (HL only)">Economies and diseconomies of scale (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22494/long-run-average-cost-curves-hl-only" title="Long run average cost curves (HL only)">Long run average cost curves (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29838/breakeven-hl-only" title="Breakeven (HL only)">Breakeven (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20340/economic-profit-hl-only" title="Economic profit (HL only)">Economic profit (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39082/market-power-crossword" title="Market power crossword">Market power crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22495/revision-exercise-on-cost-and-revenue-hl-only" title="Revision exercise on cost and revenue (HL only)">Revision exercise on cost and revenue (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29845/unit-211-costs-revenue-and-profit-review-sheet-hl-only" title="Unit 2.11: Costs, revenue and profit review sheet (HL only)">Unit 2.11: Costs, revenue and profit review sheet (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44484/unit-211-multiple-choice-quiz-sl-units" title="Unit 2.11: Multiple choice quiz (SL units)">Unit 2.11: Multiple choice quiz (SL units)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29846/market-structures-hl-only" title="Market structures (HL only)">Market structures (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29981/perfect-competition-hl-only" title="Perfect competition (HL only)">Perfect competition (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/24486/profit-in-perfect-competition-hl-only" title="Profit in perfect competition (HL only)">Profit in perfect competition (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21302/efficiency-in-perfect-competition-hl-only" title="Efficiency in perfect competition (HL only)">Efficiency in perfect competition (HL only)</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20430/monopoly-hl-only" title="Monopoly (HL only)">Monopoly (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/24529/profit-and-revenue-maximisation-in-monopoly-hl-only" title="Profit and revenue maximisation in monopoly (HL only)">Profit and revenue maximisation in monopoly (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21306/a-comparison-of-monopoly-and-perfect-competition-hl-only" title="A comparison of monopoly and perfect competition? (HL only)">A comparison of monopoly and perfect competition? (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20435/monopolistic-competition-hl-only" title="Monopolistic competition (HL only)">Monopolistic competition (HL only)</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20436/oligopoly-hl-only" title="Oligopoly (HL only)">Oligopoly (HL only)</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/22310/game-theory-hl-only" title="Game theory (HL only)">Game theory (HL only)</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29918/unit-211-market-structures-review-sheet-hl-only" title="Unit 2.11: Market structures review sheet (HL only)">Unit 2.11: Market structures review sheet (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32337/unit-211-diagram-revision-" title="Unit 2.11: Diagram revision ">Unit 2.11: Diagram revision </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20480/unit-211-multiple-choice-quiz-hl-only" title="Unit 2.11: Multiple choice quiz (HL only)">Unit 2.11: Multiple choice quiz (HL only)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32425/unit-212-the-markets-inability-to-achieve-equity-hl-only" title="Unit 2.12: The market’s inability to achieve equity (HL only)">Unit 2.12: The market’s inability to achieve equity (HL only)</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21842/unit-3-macroeconomics-" title="Unit 3: Macroeconomics ">Unit 3: Macroeconomics </a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/3942/unit-31-measuring-economic-activity-and-illustrating-its-variati" title="Unit 3.1: Measuring economic activity and illustrating its variations">Unit 3.1: Measuring economic activity and illustrating its variations</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20558/calculating-national-income" title="Calculating national income">Calculating national income</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21297/gdp-gni-as-a-measure-of-living-standards" title="GDP / GNI as a measure of living standards">GDP / GNI as a measure of living standards</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20567/national-income-statistics" title="National income statistics">National income statistics</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21580/the-business-cycle" title="The business cycle">The business cycle</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29931/unit-31-economic-activity-review-sheet" title="Unit 3.1: Economic activity review sheet">Unit 3.1: Economic activity review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20592/unit-32-variations-in-economic-activityaggregate-demand-and-aggr" title="Unit 3.2: Variations in economic activity—aggregate demand and aggregate supply">Unit 3.2: Variations in economic activity—aggregate demand and aggregate supply</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/29933/aggregate-demand-and-supply" title="Aggregate demand and supply">Aggregate demand and supply</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21582/components-of-aggregate-demand" title="Components of aggregate demand">Components of aggregate demand</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20634/equilibrium-in-macroeconomics-neo-classical-perspective" title="Equilibrium in macroeconomics (neo-classical perspective)">Equilibrium in macroeconomics (neo-classical perspective)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20439/equilibrium-in-macroeconomics-keynesian-perspective" title="Equilibrium in macroeconomics (keynesian perspective)">Equilibrium in macroeconomics (keynesian perspective)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21349/john-maynard-keynes" title="John Maynard Keynes">John Maynard Keynes</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20650/keynesian-v-free-market-debate-" title="Keynesian v free market debate ">Keynesian v free market debate </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21342/changes-in-the-long-run-aggregate-supply" title="Changes in the long run aggregate supply">Changes in the long run aggregate supply</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30055/unit-32-aggregate-demand-and-supply-review-sheet" title="Unit 3.2: Aggregate demand and supply review sheet">Unit 3.2: Aggregate demand and supply review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20610/unit-35-and-36-demand-management-fiscal-and-monetary-policy" title="Unit 3.5 and 3.6: Demand management - fiscal and monetary policy">Unit 3.5 and 3.6: Demand management - fiscal and monetary policy</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30058/government-budget" title="Government budget">Government budget</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21585/fiscal-policy-" title="Fiscal policy ">Fiscal policy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21343/multiplier-hl-only" title="Multiplier (HL only)">Multiplier (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21795/monetary-policy-" title="Monetary policy ">Monetary policy </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30071/independent-central-banks" title="Independent central banks">Independent central banks</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30083/unit-35-and-36-review-sheet" title="Unit 3.5 and 3.6 review sheet">Unit 3.5 and 3.6 review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20615/unit-37-supply-side-policies" title="Unit 3.7: Supply side policies">Unit 3.7: Supply side policies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20651/the-role-of-supply-side-policies" title="The role of supply side policies">The role of supply side policies</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20622/market-based-and-interventionist-supply-side-policies-" title="Market based and interventionist supply side policies ">Market based and interventionist supply side policies </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39129/aggregate-demand-and-supply-crossword" title="Aggregate demand and supply crossword">Aggregate demand and supply crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30086/unit-37-review-sheet" title="Unit 3.7: Review sheet">Unit 3.7: Review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20755/unit-31-32-and-35-37-multiple-choice-quiz-" title="Unit 3.1-3.2 and 3.5-3.7: Multiple choice quiz ">Unit 3.1-3.2 and 3.5-3.7: Multiple choice quiz </a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44522/unit-31-32-and-35-37-revision-quiz" title="Unit 3.1-3.2 and 3.5-3.7: Revision quiz">Unit 3.1-3.2 and 3.5-3.7: Revision quiz</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20686/unit-33-macroeconomic-objectives" title="Unit 3.3: Macroeconomic objectives">Unit 3.3: Macroeconomic objectives</a></li><ul class="level-2 "><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30118/unemployment" title="Unemployment">Unemployment</a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21351/types-of-unemployment" title="Types of unemployment?">Types of unemployment?</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21593/equilibrium-unemployment-" title="Equilibrium unemployment ">Equilibrium unemployment </a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21594/disequilibrium-unemployment" title="Disequilibrium unemployment">Disequilibrium unemployment</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30458/unemployment-review-sheet" title="Unemployment review sheet">Unemployment review sheet</a></li></ul><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20713/inflation-" title="Inflation ">Inflation </a></li><ul class="level-3 "><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20712/measuring-inflation-hl-only" title="Measuring inflation (HL only)">Measuring inflation (HL only)</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20685/costs-of-inflation-and-deflation" title="Costs of inflation and deflation">Costs of inflation and deflation</a></li><li class="" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30465/inflation-review-sheet" title="Inflation review sheet">Inflation review sheet</a></li></ul><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20716/unemployment-v-inflation-trade-off-hl-only" title="Unemployment v inflation trade off (HL only)">Unemployment v inflation trade off (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39133/macroeconomic-objectives-crossword" title="Macroeconomic objectives crossword">Macroeconomic objectives crossword</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/44511/unit-33-macroeconomic-indicators-revision-quiz" title="Unit 3.3: Macroeconomic indicators revision quiz">Unit 3.3: Macroeconomic indicators revision quiz</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20741/unit-34-economics-of-inequality-and-poverty" title="Unit 3.4: Economics of inequality and poverty">Unit 3.4: Economics of inequality and poverty</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32398/inequality" title="Inequality">Inequality</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21356/the-role-of-spending-and-taxation-on-inequality-" title="The role of spending and taxation on inequality ">The role of spending and taxation on inequality </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21313/consequences-of-economic-growth" title="Consequences of economic growth">Consequences of economic growth</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30257/economic-growth-and-inequality-review-sheet" title="Economic growth and inequality review sheet">Economic growth and inequality review sheet</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20756/unit-33-34-multiple-choice-" title="Unit 3.3-3.4: Multiple choice ">Unit 3.3-3.4: Multiple choice </a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21844/unit-4-global-economy" title="Unit 4: Global economy">Unit 4: Global economy</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21367/unit-41-benefits-of-international-trade" title="Unit 4.1: Benefits of international trade">Unit 4.1: Benefits of international trade</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30529/benefits-of-international-trade" title="Benefits of international trade">Benefits of international trade</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20823/absolute-and-comparative-advantage-hl-only" title="Absolute and comparative advantage (HL only)">Absolute and comparative advantage (HL only)</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20845/unit-42-43-trade-protection" title="Unit 4.2-4.3: Trade protection">Unit 4.2-4.3: Trade protection</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32419/barriers-to-trade-calculations-are-hl-only" title="Barriers to trade (calculations are HL only)">Barriers to trade (calculations are HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21610/case-study-on-tata-steel" title="Case study on Tata Steel">Case study on Tata Steel</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/23455/the-defence-industry" title="The Defence industry">The Defence industry</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30610/unit-41-43-review-sheet" title="Unit 4.1-4.3: Review sheet">Unit 4.1-4.3: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20894/unit-44-economic-integration-" title="Unit 4.4: Economic integration ">Unit 4.4: Economic integration </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30634/economic-integration-some-hl-tasks" title="Economic integration (some HL tasks)">Economic integration (some HL tasks)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20840/world-trade-organisation-wto" title="World trade organisation (WTO)">World trade organisation (WTO)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30635/unit-44-review-sheet" title="Unit 4.4: Review sheet">Unit 4.4: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20853/unit-45-exchange-rates" title="Unit 4.5: Exchange rates">Unit 4.5: Exchange rates</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30611/floating-exchange-rates" title="Floating exchange rates">Floating exchange rates</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/31824/fixed-managed-exchange-rate-systems-some-hl-tasks" title="Fixed / managed exchange rate systems (some HL tasks)">Fixed / managed exchange rate systems (some HL tasks)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21624/the-market-for-foreign-exchange" title="The market for foreign exchange">The market for foreign exchange</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30614/unit-45-review-sheet" title="Unit 4.5: Review sheet">Unit 4.5: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20859/unit-46-balance-of-payments" title="Unit 4.6: Balance of payments">Unit 4.6: Balance of payments</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30624/balance-of-payments-" title="Balance of payments ">Balance of payments </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21386/current-account-hl-only" title="Current account (HL only)">Current account (HL only)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20872/the-marshall-lerner-condition-j-curve-hl-only" title="The Marshall-Lerner condition / J curve (HL only)">The Marshall-Lerner condition / J curve (HL only)</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20899/units-41-46-multiple-choice-quiz-" title="Units 4.1-4.6: Multiple choice quiz ">Units 4.1-4.6: Multiple choice quiz </a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/42989/unit-41-46-multiple-choice-quiz-ii" title="Unit 4.1-4.6: Multiple choice quiz II">Unit 4.1-4.6: Multiple choice quiz II</a></li><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/39438/unit-41-46-international-trade-crossword" title="Unit 4.1-4.6: International trade crossword">Unit 4.1-4.6: International trade crossword</a></li><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32423/unit-47-sustainable-development-" title="Unit 4.7: Sustainable development ">Unit 4.7: Sustainable development </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/26092/water-scarcity-activity" title="Water scarcity activity">Water scarcity activity</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32426/sustainable-development" title="Sustainable development">Sustainable development</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20928/unit-48-measuring-development-" title="Unit 4.8: Measuring development ">Unit 4.8: Measuring development </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30686/measuring-development" title="Measuring development">Measuring development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21627/economic-development-" title="Economic development ">Economic development </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30679/unit-47-48-review-sheet" title="Unit 4.7-4.8: Review sheet">Unit 4.7-4.8: Review sheet</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Unit 4.9: Barriers to development">Unit 4.9: Barriers to development</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30727/barriers-to-development-in-international-trade" title="Barriers to development in International trade">Barriers to development in International trade</a></li></ul><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32430/unit-410-economic-growth-andor-economic-development-strategies" title="Unit 4.10: Economic growth and/or economic development strategies">Unit 4.10: Economic growth and/or economic development strategies</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30687/the-role-of-domestic-factors" title="The role of domestic factors">The role of domestic factors</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30688/the-role-of-international-trade-and-development" title="The role of international trade and development">The role of international trade and development</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30689/the-role-of-foreign-direct-investment-fdi" title="The role of foreign direct investment (FDI)">The role of foreign direct investment (FDI)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25240/the-role-of-foreign-aid-" title="The role of foreign aid ">The role of foreign aid </a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30819/multilateral-development-assistance" title="Multilateral development assistance">Multilateral development assistance</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21632/the-role-of-international-debt" title="The role of international debt">The role of international debt</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/25242/the-balance-between-markets-and-intervention" title="The balance between markets and intervention">The balance between markets and intervention</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/30926/unit-49-410-review-sheet" title="Unit 4.9 - 4.10: Review sheet">Unit 4.9 - 4.10: Review sheet</a></li></ul></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21380/assessment" title="Assessment">Assessment</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Internal assessment ">Internal assessment </a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/20608/how-to-write-your-ia-student-handout" title="How to write your IA? (student handout)">How to write your IA? (student handout)</a></li><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/21428/how-to-interpret-the-assessment-criteria" title="How to interpret the assessment criteria?">How to interpret the assessment criteria?</a></li><li class=" parent" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Grading practise ">Grading practise </a></li><ul class="level-3 "><li class=" parent" style="padding-left: 42px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Sample 3a">Sample 3a</a></li><ul class="level-4 "><li class="" style="padding-left: 56px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32083/sample-3b" title="Sample 3b">Sample 3b</a></li></ul></ul></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/32022/assessment-markbands" title="Assessment markbands">Assessment markbands</a></li></ul><li class=" parent std-toplevel" style="padding-left: 4px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/4332/exam-style-questions" title="Exam style questions">Exam style questions</a></li><ul class="level-1 "><li class=" parent" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="std-disabled" href="#" title="Paper 1 style examination questions">Paper 1 style examination questions</a></li><ul class="level-2 "><li class="" style="padding-left: 28px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/40100/unit-211-212-questions" title="Unit 2.11-2.12 questions">Unit 2.11-2.12 questions</a></li></ul><li class="" style="padding-left: 14px"><i class="expander fa fa-caret-right "></i><a class="" href="https://www.student.thinkib.net/economics/page/45102/paper-1-guidance-on-essay-writing" title="Paper 1 guidance on essay writing">Paper 1 guidance on essay writing</a></li></ul></ul></nav> </div> </div> </div> </div><div style="margin-top: 20px;"><style type="text/css">
.studyib-link {
display: inline-block;
overflow: hidden;
font-size: 1.2em;
font-weight: normal;
margin: 10px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-link {
font-size: 1em;
font-weight: normal;
margin: 5px;
transition: transform .2s; /* Animation */
}
#left-column .studyib-advert h2 {
font-size: 1.35em;
}
.studyib-link:hover {
transform: scale(1.2);
}
.studyib-link > img {
width: 2em; height: 2em;
margin: 0;
float: left;
}
.embed-responsive {
position: relative;
display: block;
height: 0;
padding: 0;
margin: 15px 0;
}
.embed-responsive-16by9 {
padding-bottom: 56.25%;
}
.embed-responsive iframe {
position: absolute;
top: 0;
left: 0;
bottom: 0;
height: 100%;
width: 100%;
border: 0;
}
.studyib-advert {
padding: 20px;
background: #E7EDF5;
border: solid 1px #EFF;
/* margin-left: 70px; */
}
.studyib-advert .heading {
display: flex;
flex-direction: row;
align-items: center;
}
.studyib-advert .heading img {
margin-right: 15px;
}
.studyib-advert .heading span {
color: #444
}
.studyib-advert h2,
.studyib-advert h3 {
margin: 0;
}
.studyib-advert .body {
margin-top: 20px;
}
</style>
<div class="studyib-advert">
<div class="heading">
<img src="https://assets.inthinking.net/thinkib/header-thinker-sib.svg" height="50" width="50" class="pull-left" alt="InThinking Revision Sites">
<div>
<h2>INTHINKING REVISION SITES</h2>
<span><em>Own your learning</em></span>
</div>
</div>
<div class="body">
<p>Why not also try our independent learning self-study & revision websites for students?</p>
<p>We currenly offer the following DP Sites: Biology, Chemistry, English A Lang & Lit, Maths A&A, Maths A&I, Physics, Spanish B</p>
<p>
<em>"The site is great for revising the basic understandings of each topic quickly.
Especially since you are able to test yourself at the end of each page and easily see where yo need to improve."</em>
</p>
<p><em>"It is life saving... I am passing IB because of this site!"</em></p>
<p>Basic (limited access) subscriptions are FREE. Check them out at:</p>
<div class="text-center">
<h3>
<a href="//studyib.net">www.StudyIB.net</a>
</h3>
</div>
</div>
</div>
</div></div><!-- /#left-column-->
<div id="main-column" class="span9"> <article id="inequity" style="margin-top: 16px;">
<h1 class="section-title">Inequity</h1>
<ul class="breadcrumb"><li><a title="Home" href="https://www.student.thinkib.net/economics"><i class="fa fa-home"></i></a><span class="divider">/</span></li><li><span class="gray">Textbook</span><span class="divider">/</span></li><li><span class="gray">Chapter 3: Macroeconomics</span><span class="divider">/</span></li><li><span class="gray">Economics real world examples and extension material </span><span class="divider">/</span></li><li><span class="active">Inequity</span></li></ul>
<div class="row-fluid">
<section class="span12" id="main-content">
<div class="blueBg"><div class="panel" style="box-shadow: rgba(17, 0, 38, 0.3) 0px 10px 30px -15px; border-color: rgb(103, 7, 124);"><div class="panel-heading" style="background-color: rgb(103, 7, 124);"><div><h3>The view of an Economist</h3></div></div><div class="panel-footer" style="background-color: rgba(103, 7, 124, 0.1);"><div><p>text</p></div></div></div><h4>Dambisa Moyo - Background</h4><p><img alt="" src="/media/ib/economics/images/textbook/blog/dambisa.jpg" style="float: left; width: 300px; height: 230px;" />Zambian born economist, Dambias Moyo started out with an undergraduate degree in Chemistry, and went on to do an MBA at the American University in Washington DC, an MPA at Harvard University and a DPhil in Economics at Oxford University. She is on the board of directors for the Chevron Corporation and the 3M Company. She has also worked for the World Bank and Goldman Sachs.</p><hr class="hidden" /><p>Dambias Moyo is a high-profile economist who regularly features on business news channels, TedX lectures and even major television shows such as Real Time with Bill Maher. She has written a number of best-selling books in Economics and the Political Economy. Her most recent book, <em>Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth – and How to Fix It (2018) </em>spent some time in the New York Times bestseller list.</p><h4><strong>Edge of Chaos</strong></h4><p><img alt="" src="/media/ib/economics/images/textbook/blog/edge-of-chaos.jpg" style="float: right; width: 200px; height: 300px;" />One of the central themes of <em>Edge of Chaos </em>is how population growth, rising income inequality, commodity scarcity and technological development are undermining economic welfare and social cohesion in many countries in the world. Moyo believes a growing underclass of people in the world economy is stuck in low paid employment, poverty and have little political representation. She believes this underclass is a risk to economic, political and social stability in countries across the world.</p><p>Moyo believes the solution to these problems lies in developing a more long-term strategic approach to economic and political decision making where the private sector and government sector work in partnership to manage and fund long-term solutions to issues such as low labour productivity, static incomes and inequity.</p><hr class="hidden" /><p>Two interesting areas of focus in <em>Edge of Chaos</em> are, firstly, the need to reward a nation’s politicians more highly and then make them more accountable for their decisions. The hope is that this will make them take a more long-term view in their decision making. Secondly, Moyo believes that moving more resources globally towards education would be the single most important policy to solving the problems facing the world's poor.</p></div><div class="pinkBg"><h4>Some points for discussion</h4><p><strong>a. Explain some of the causes of rising global inequality and inequity.</strong></p><section class="tib-hiddenbox"><p>Possible points to consider:</p><ul><li>Inequality is about the unequal distribution of income amongst the world's population and inequity is about unequal life opportunities for the world's people.</li><li>Unequal distribution of resources to produce goods and services.</li><li>Lack of access to necessity services such as health and education.</li><li>Unequal distribution of political and economic power.</li><li>High-income groups/individuals can maintain their situation because of their financial power.</li><li>Political and economic instability in the world's poorest countries.</li><li>Environmental constraints in the world's poorest countries.</li></ul></section><p><strong>b. To what extent does rising global inequality and inequity leads to social and economic problems?</strong></p><section class="tib-hiddenbox"><p>Possible points to consider:</p><ul><li>Political instability within countries and sometimes in the whole country.</li><li>High levels of absolute and relative poverty.</li><li>Poor levels of health and education in the poorest countries.</li><li>Rising levels of household debt as individuals strive for better lives.</li><li>The tension between groups and individuals and groups within countries.</li></ul></section><p><strong>c. To what extent is Dambisa Moyo right to focus on education as the main solution to the problems she has identified in her book<em> Edge of Chaos?</em></strong></p><section class="tib-hiddenbox"><p>Possible points to consider:</p><ul><li>Education can lead to better paying and skilled employment for individuals.</li><li>Education can give lower-income groups access to political power and influence.</li><li>Education can facilitate people making better life choices in areas such as employment and health.</li><li>Education can give people the ability to participate in the political process to empower their influence in society.</li><li>However, other factors might also be possible solutions to inequity and inequality issues such as business investment, healthcare provision and tax policy. </li></ul></section><ul></ul></div><script>document.querySelectorAll('.tib-teacher-only').forEach(e => e.remove());</script>
</section>
</div>
</article>
</div><!-- /#main-column -->
</div>
</div><!-- /#content -->
</div>
</div>
<div id="footer" class="student-access">
<div class="wmap">
<div class="layout-wrapper">
<p>
© <script>document.write(new Date().getFullYear())</script> <em>InThinking</em>
|
<a target="_self" href="https://thinkib.net/subscribe/about-us">
About us
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/legal">
Legal
</a>
|
<a target="_self" href="https://thinkib.net/subscribe/contact">
Contact
</a>
</p>
<p>
<a class="social" target="_blank" href="https://twitter.com/#!/inthinker">
<img src="https://assets.inthinking.net/social/twitter-square.svg"> Twitter
</a>
<a class="social" target="_blank" href="https://www.facebook.com/inthinking.net">
<img src="https://assets.inthinking.net/social/facebook-square.svg"> Facebook
</a>
<a class="social" target="_blank" href="https://www.linkedin.com/company/9s4we1">
<img src="https://assets.inthinking.net/social/linkedin-square.svg"> LinkedIn
</a>
</p>
</div>
</div>
</div>
<input id="tzoffset" type="hidden" value="-7200" /><div id="modal-session-expired" class="modal fade" tabindex="-1" role="dialog" data-backdrop="static" data-keyboard="false">
<div class="modal-dialog" role="document">
<div class="modal-content">
<div class="modal-header">
<h3 style="margin-top: 0">Your session has expired</h3>
</div>
<div class="modal-body" style="padding: 10px;">
<p>You will have to reload and log in again.</p>
</div>
<div class="modal-footer">
<a id="session-expired" class="btn btn-danger pull-right" href="#">
<i class="fa fa-refresh"></i> Reload
</a>
</div>
</div>
</div>
</div>
<!-- Loading scripts at the end of the body means faster page loading -->
<script src="/js/jquery-1.10.2.min.js"></script>
<script src="js/bootstrap.min.js"></script>
<script type="text/javascript" src="js/jq-fancybox/jquery.fancybox.pack.js"></script>
<script src="/js/sidemenu/sidemenu.min.js?v=202011301145"></script><script src="/js/std-access/std-assignments-utils.min.js?v=202305221900"></script><script src="/js/std-access/std-comments-utils.min.js?v=202305221900"></script><script src="/js/std/std-task-utils.min.js?v=202305221900"></script><script src="/js/jq-mark.js/jquery.mark.min.js"></script><!-- MathJax only to render Math ML -->
<!--<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=TeX-AMS-MML_HTMLorMML"></script>-->
<script src="https://cdnjs.cloudflare.com/ajax/libs/mathjax/2.7.0/MathJax.js?config=MML_HTMLorMML"></script>
<style>
.math-tex {
font-size: 1.15em !important;
}
.math-tex span.ML__text {
/*font-family: inherit !important;*/
}
.ML__text + .ML__mathit {
margin-left: 0 !important;
}
.math-tex img, .math-tex + img, span img {
box-shadow: none;
margin: 0;
}
body {
--keycap-height: 39px;
--keycap-font-size: 16px;
--keycap-shift-font-size: 9px;
--keycap-small-font-size: 9px;
--keycap-extra-small-font-size: 9px;
--keyboard-toolbar-font-size: 16px;
--keycap-gap: 1px;
}
</style>
<script src="https://unpkg.com/mathlive/dist/mathlive.min.js" async defer></script>
<script src="https://unpkg.com/@cortex-js/compute-engine" async defer></script>
<script type="text/javascript" src="/js/cortexjs-utils.min.js?v=20230810"></script>
<script>
window.addEventListener('load',
() => MathLive.renderMathInDocument()
);
</script>
<script src="/js/header-circle.min.js?v=202305221900"></script><script type="text/javascript" src="/js/cookies.min.js"></script>
<script type="text/javascript">
// The cookies alert
if (! readCookie("displayCookieConsent") && ! readCookie("y") ) {
var cookieMSG = "We use cookies. By continuing to use this website you are giving consent to cookies being used.";
setTimeout(function() {
$.ajax({
cache: true,
url: "js/cookiechoices.js",
dataType: "script",
success: function () {
cookieChoices.showCookieConsentBar(cookieMSG, 'close', 'Read more', "economics/legal#cookies");
}
});
}, 2000);
}
</script><script>var sAJAX='/pages/activity/user-stats-page.php?t=fd6a5e8a06cfccf2&x=7012';var sData='0ebg+I>F/4F[IxZc+iZsoiQ1+jn2UjpCqiT2UMkSn4]uIxZ1o|TSLNc80t/6/OnQ+|>9oNw1o[/z/On8LN>coOk[UxbOqNuc2|w6IicY/4FS]eg[2|TMojTe+iTaLmcgqt/z/OpCqir[UxbeqIn9LIb4qTZ1qx/z/4kSn4]u/O8=';var loopSecs = 30;var lsKey = '9ece7bfb2c97f6978dd7f504fc8c5560';</script><script src="/js/user/user-stats-page.min.js?v=202102101800"></script><script>var sessionUpdateSecs = 600;</script><script type="text/javascript" src="/js/session-updater.js?v=20200831"></script>
<script type="text/javascript">
$(document).ready(function(){
function padLeft(str,max){return str.length<max?padLeft("0"+str,max):str}function padRight(str,max){return str.length<max?padRight(str+"0",max):str}$("body").on("click",'a[href="#"], a.fancybox-nav, a[data-toggle="tab"], a[data-toggle="dropdown"], a[data-toggle="collapse"], a[data-toggle="modal"]',(function(e){e.preventDefault()}));var topmenuOffset=0,topmenuHeight=0;function fixDiv(t,h){$(window).scrollTop()<topmenuOffset||$("#topmenu ul.level-1").is(":visible")?($("#topmenu").css({position:"",width:""}),$("#topmenu").removeClass("fixed-top"),$("body").css({"padding-top":"0"})):($("#topmenu").css({position:"fixed",top:"0",width:$("#topmenu").width()+"px"}),$("#topmenu").addClass("fixed-top"),$("body").css({"padding-top":topmenuHeight+"px"}))}function fixSearchNav(){var searchMenuTop=topmenuOffset+topmenuHeight,searchMenuH=$("#nav-menu-search").is(":visible")?$("#nav-menu-search").outerHeight():0;if($(window).scrollTop()>searchMenuTop-topmenuHeight){var borderBottomWidth=parseInt($("#topmenu").css("borderBottomWidth"))+1;$("#nav-menu-search").css({position:"fixed",top:topmenuHeight+borderBottomWidth+"px",left:"0",right:"0"}),$("#nav-menu-search").addClass("fixed-top"),$("body").css("padding-top",topmenuHeight+searchMenuH+"px")}else $("#nav-menu-search").css({position:""}),$("#nav-menu-search").removeClass("fixed-top"),$("body").css("padding-top","0")}$("#topmenu").length&&(topmenuOffset=$("#topmenu").offset().top,topmenuHeight=$("#topmenu").outerHeight(),fixDiv(),$(window).scroll((function(){fixDiv(),fixSearchNav()}))),$("a.toggle-menu-search").on("click",(function(e){e.preventDefault(),$("#nav-menu-search").slideToggle("fast",(function(){$(this).find('input[name="s"]').focus()}))}));var menuH=$("#topmenu").height(),itemH=$("#topmenu > nav > ul > li").height();function fancyScrollTo(id){$("html, body").animate({scrollTop:$("#"+id).offset().top-300},300)}function printSectionBlog(){var w=$(window).width()/2,h,windowSettings="height="+($(window).height()-100)+", width="+w+", left=0, top=0, resizable=no, ";windowSettings+="scrollbars=yes, toolbar=no, menubar=no, location=no, ",windowSettings+="directories=no, status=yes";var myWindow=window.open("","Page printer",windowSettings),containerHtml=["<html>","<head>","<title>Page printer</title>",'<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/style.min.css?v=20230303">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+"/css/style"+SITE_TAG+'.min.css?v=202104061357">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/snippets.min.css?v=202210181500">','<link rel="stylesheet" type="text/css" href="'+window.location.origin+'/css/article.min.css?v=202212191730">',"</head>","<body>",$("section#main-content").html().replace(/<span\sclass="MJX_Assistive_MathML".*?<\/span>/g,""),"</body>","</html>"].join("");containerHtml=containerHtml.replace(/src="files\//gi,'src="'+window.location.origin+"/files/"),myWindow.document.write(containerHtml),myWindow.document.close(),myWindow.focus(),setTimeout((function(){$.when(myWindow.print()).then(myWindow.close())}),1e3)}function PopupPrint(target){window.print()}$("#topmenu > nav > ul > li").each((function(){if(menuH>itemH&&$(this).position().top<1){var i=itemH+1;$(this).find("ul:first").css("margin-top","-"+i+"px")}})),$("#topmenu > nav > ul > li").on("mouseenter mouseleave",(function(e){var submenu=$("ul:first",this),submenuW=submenu.width();$(this).offset().left+submenuW>$(window).width()&&(submenu.css("right","0"),submenu.find("ul").each((function(){if(!$(this).hasClass("fixed")){var l=$(this).width()+submenuW;$(this).css("margin-left","-"+l+"px"),$(this).addClass("fixed")}})))})),$("a.showhider").click((function(e){e.preventDefault();var box="#"+$(this).attr("rel"),show='<i class="fa fa-eye"></i>',hide='<i class="fa fa-eye-slash"></i>';$(box).slideToggle("fast"),$(this).html($(this).html()==show?hide:show),$(this).attr("title","Show"==$(this).attr("title")?"Hide":"Show")})),$("a.scroll-to").click((function(e){e.preventDefault();var n=$("#"+$(this).data("target")).offset().top-70;$("html, body").animate({scrollTop:n},300)})),$("a.print-section-blog").click((function(e){e.preventDefault(),printSectionBlog()})),$(".print-button").click((function(e){var target;e.preventDefault(),PopupPrint("#"+$(this).data("target-id"))})),$(".alert.alert-success").delay(6e3).hide("fast",fixDiv());var fancyParent=1==$("body").find($("#main-article")).length?"#main-article":"body",fancyOptions={loop:!1,openEffect:"elastic",closeEffect:"elastic",nextEffect:"fade",prevEffect:"fade",parent:fancyParent,helpers:{title:{type:"inside"}}};if($("ul.gallery").each((function(){var rel=$(this).find("li:first-child > a:first-child").attr("rel");$('ul.gallery a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$(".carousel.slide").each((function(){var rel="gallery-"+$(this).data("id");$('.carousel.slide a.fancy[rel="'+rel+'"]').fancybox(fancyOptions)})),$("img.pop").parent("a").each((function(){$(this).attr("title",$(this).children("img").attr("alt"))})),$("img.pop").parent("a").fancybox({loop:!1,helpers:{title:{type:"inside"}}}),!are_cookies_enabled()){var msg='<div class="alert alert-error"><i class="fa fa-warning"></i> Your browser does not accept cookies from this site. Please enable cookies to log in.</div><div class="alert alert-info"><i class="fa fa-question-circle"></i> Enabling cookies in <a target="_blank" style="margin: 0; padding: 0;" href="https://support.mozilla.org/en-US/kb/enable-and-disable-cookies-website-preferences">Firefox</a>, <a target="_blank" style="margin: 0; padding: 0;" href="https://support.google.com/accounts/answer/61416?hl=en">Chrome</a>, <a target="_blank" style="margin: 0; padding: 0;" href="http://windows.microsoft.com/en-us/windows-vista/block-or-allow-cookies">Explorer</a></div>';$("#modal-login .modal-header").append(msg)}if($(".panel-expandable > .panel-heading").click((function(e){e.preventDefault();var panel=$(this).closest(".panel-expandable"),expandables=panel.hasClass("panel-has-footer")?".panel-body, .panel-footer":".panel-body";panel.find(".panel-body").is(":visible")?(panel.find(expandables).slideUp("fast"),panel.find(".expander > .fa-minus").removeClass("fa-minus").addClass("fa-plus")):(panel.find(expandables).slideDown("fast"),panel.find(".expander > .fa-plus").removeClass("fa-plus").addClass("fa-minus"))})),$("#modal-find-out-more").css({width:.8*$("#container").width()+"px","margin-left":-.4*$("#container").width()+"px"}),$(".modal-xxl").length){var modalTopPos=Math.round(.07*$(window).height());$(window).width()>1200&&$(".modal-xxl").css({"max-width":$(window).width()>960?"960px":$(window).width()+"px",width:$(window).width()>960?"960px":$(window).width()+"px","margin-left":$(window).width()>960?"-480px":Math.round($(window).width()/2)}),$(".modal-xxl").css("top",modalTopPos+"px"),$(".modal-xxl").on("shown",(function(){var mHeaderH=$(this).find(".modal-header").outerHeight(),mBody=$(this).find(".modal-body"),mBodyH=mBody.outerHeight(),mFooterH=$(this).find(".modal-footer").outerHeight(),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH;if(bottomOfTheModal<$(window).height())mBodyH+=$(window).height()-bottomOfTheModal-60,mBody.css("max-height",mBodyH+"px");else{$(window).scrollTop(0),modalTopPos=10,$(".modal-xxl").css("top",modalTopPos+"px"),bottomOfTheModal=modalTopPos+mHeaderH+mBodyH+mFooterH,availableScroll=bottomOfTheModal-$(window).height()+modalTopPos;var lastPos=-1;$(window).on("scroll",(function(){var s=$(window).scrollTop()>availableScroll?availableScroll:$(window).scrollTop();newPos=modalTopPos-s,newPos!=lastPos&&($(".modal-xxl").css("top",newPos+"px"),lastPos=newPos)}))}}))}function popupHelp(url,title,w,h){var dualScreenLeft=void 0!==window.screenLeft?window.screenLeft:screen.left,dualScreenTop=void 0!==window.screenTop?window.screenTop:screen.top,width,height,left=(window.innerWidth?window.innerWidth:document.documentElement.clientWidth?document.documentElement.clientWidth:screen.width)/2-w/2+dualScreenLeft,top=(window.innerHeight?window.innerHeight:document.documentElement.clientHeight?document.documentElement.clientHeight:screen.height)/2-h/2+dualScreenTop,newWindow=window.open(url,title,"menubar=no,location=no,resizable=0, width="+w+", height="+h+", top="+top+", left="+left);return window.focus&&(newWindow?newWindow.focus():$('<div class="alert alert-warning" style="margin-bottom: 0px;"><p class="help-block">Pop Up blocked. Please allow Pop Ups in your browser settings.</p></div>').insertBefore("body")),newWindow}if($(".open-student-access-help").click((function(e){e.preventDefault();var h=$(window).height()-20,w=$(window).width()<1280?$(window).width():1280;popupHelp(helpURL,"Student Access Help",w,h)})),$(".pop-up-help").click((function(e){e.preventDefault();var url=$(this).attr("href"),title=$(this).data("title"),h=$(window).height()-20,w;popupHelp(url,title,$(window).width()<1280?$(window).width():1280,h)})),$("section.tib-hiddenbox").length){var count=0;$($("section.tib-hiddenbox").get().reverse()).each((function(){var box=$(this),revealButton;$("<a />").attr("class","btn showhider").attr("rel","hiddenBoxContent"+count).attr("style","margin-bottom: 0;").html('<i class="fa fa-eye"></i>').insertBefore(box);var newContainer=$("<div />").attr("class","hidden-content").attr("id","hiddenBoxContent"+count).html(box.html());newContainer.hide(),newContainer.insertBefore(box),box.remove(),count++})),$("a.showhider").on("click",(function(e){var container=$("#"+$(this).attr("rel"));container.is(":hidden")?(container.fadeIn("fast"),$(this).html('<i class="fa fa-eye-slash"></i>')):(container.fadeOut("fast"),$(this).html('<i class="fa fa-eye"></i>'))}))}
$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$('img.ico[src="https://assets.inthinking.net/thinkib/icons/comments.png"]').each(function(){var comment=$(this).attr("title");$(this).removeAttr("title");$(this).wrap('<a class="tib-popover" href="#" data-content="'+comment+'" data-togle="popover" data-placement="top" />')});$(".tib-popover").popover({html:true,trigger:"hover",delay:{show:300,hide:300},placement:function(context,source){var position=$(source).position();if(position.top>200){return"top"}if(position.left<515){return"right"}if(position.top<200){return"bottom"}if(position.left>515){return"left"}return"top"}}).click(function(e){e.preventDefault()});var carouselTime=6500;$("div.carousel.slide").carousel({interval:carouselTime});$(".tib-indicators > img").click(function(){var index=$(this).index();var container=$(this).closest(".carousel.slide");container.carousel(index)});setShowResultsListeners($("#container"));addMarksThreads($("#modal-std-write"));
$('a.btn.showhider').click(function(e) {
var showHiderId = $( this ).attr('rel');
if( $('#'+showHiderId).find('iframe').length > 0 ) {
$('#'+showHiderId+' iframe').each(function() {
if ( $(this).attr('src').indexOf('.pdf') > 0 ) {
this.contentWindow.location.reload(true);
}
});
}
});
});
</script>
</body>
</html>