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May15 Economics SL Paper 1 TZ2

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Hey everybody, how did Eco SL Paper 1 go? Particularly the Tz2, since I gave that paper. Which ones did you attempt? 

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So I noticed that the 4th question was identical to my 4th question (aka the second option in macro) but I did number 3. It was fairly simple- explaining how a rise in savings and a fall in investment affects the flow of income (shrinks it) and the 15 marker was the easiest ever- simply explaining why the economy always returns to a level of full employment output in the long run (basically why a change in AD does not affect real GDP). 

 

I read the 4th question and although I knew it, I didn't feel I could write a lot on the 15 marker so I did number 3 instead. Microeconomics was also fairly easy. I did number 2- it asked to explain how a decrease in costs of production affect the price and output of the agriculture industry (supply shifts right, price comes down, output increases) and how a price floor on agricultural product affects stakeholders of governments. This last part, the 15 marker was particularly long and challenging, though I feel I wrote a really good answer. 

 

But, anyway, no more econ for life! :P 

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Hey


did u talk about the spending on education and training, spending on Research and development, spending on infrastructure for interventionist supply side policies.


Did u talk about the welfare losses in price floors, fall in consumer surplus and fall in producer surplus for price floor.


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Hi everyone, i'm taking the exams next year but this June i have finals at my school and i think my teacher may ask something related with the ib exams. Can you help me with some information of the questions? Paper 1 and paper 2 questions would be really appreciated in order to review something

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My economics class and I all thought that the P1 in SL economics wasn't what we expected at all. I did the past 3 years of exams in economics for revision, and they were all way easier than this year's?! They weren't focused and you couldn't really apply the standard method of answering (Define, diagram, explain diagram, examples, discuss/evaluate) to two of the questions in my opinion. Paper 2 was much better though. 

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