Ib Physics Hl - Jjw-led

consumption surplus and producer surplus). Impact on markets Explain why governments provide subsidies and describe examples of subsidies. Draw a diagram to show a subsidy and analyse the impact of a subsidy on market outcomes. Discuss the impact of subsidisation on market stakeholders, including consumers, producers and government.Draw the supply and demand curves of a product on the basis of linear functions and then explain and/or calculate the effects of the provision of a subsidy on the market (on price, quantity, consumption expenditure, producer income, government expenditure, surplus consumption and surplus production). Price caps (maximum prices): logic,consequences and examples They explain why governments impose price caps and describe examples of price caps, including controls on food prices and rentals. Draw a diagram to show a price cap and analyse the impacts of a price cap on market outcomes. Examine the possible consequences of a price cap, including scarcity, inefficient resourceallocation, welfare impacts, underground parallel markets and non-tariff rationing mechanisms. Discuss the consequences of imposing a price cap on stakeholders in a market, including consumers, producers and government. Prices (minimum prices): logic, consequences and examples because governments impose price plans and describe examplesof price plans, including price support for agricultural products and minimum wages. Draw a diagram of a price level and analyse the impacts of a price level on market outcomes. Examine the possible consequences of a price level, including: and government measures to eliminate surpluses, inefficient allocation of resources and welfare impacts.Discuss the consequences of imposing a price plan on stakeholders in a market, including consumers, producers and government. Argument: the failure of the IB IB market to understand (SL and HL if not otherwise noted) the market failure in case of failure to allocate resources efficiently analyze the concept of market failure as a market failure inorder to achieve allocative efficiency, with a generation of resources (Oversupply of a good) or a sub-allocation of resources (sub-supply of a good) the meaning of externalities describes the concepts of marginal private benefits (MPB), marginal social benefits (MSB), marginal private costs (MPC) and marginal social costs (MSC) Describe the meaningof externalities as the failure of the market to achieve a social optimum where MSB MSC. Negative externalities of production and consumption Explain, using diagrams and examples, the concepts of negative externalities of production and consumption and the loss of well-being associated with the production or consumption of a b Explains thatDemerito goods are goods whose consumption creates external costs. Evaluate, using diagrams, the use of policy responses, including market-based policies (taxation and negotiable permits) and government regulations, to the problem of negative externalities of production and consumption. Positive externality of production and consumption Spiega,using diagrams and examples, the concepts of positive externalities of production and consumption and the loss of well-being associated with the production or consumption of a good or service. fold that you deserve goods are goods whose consumption creates external benefits. Evaluate, using diagrams, the use of government responses, includingsubsidies, legislation, advertising to influence conduct and direct supply of goods and services. Lack of public goods using concepts of rivalry and exclusion, and by providing examples, distinguish between public goods (non-rival and non-disposable) and private goods (rivals and excluded). Explain, in relation to the problem of the free rider, how thelack of public goods indicates the failure of the market. Discuss the implications of the government's direct supply of public goods. Means of common access and the threat to sustainability Describe, using examples, common access resources. Description of sustainability. Explain that the lack of a pricing mechanism for common access resourcesmeans that these goods can be over-used/impoverished/degraded due to the activities of producers and consumers who do not pay for the resources they use, and that this constitutes a threat to sustainability. Explain, using diagrams of negative externalities, that the economic activity to which the use of fossil fuels to satisfy the demand represents athreat to sustainability. Explain that the existence of poverty in economically less developed countries creates negative externalities through excessive land use for agriculture, and that this poses a threat to sustainability. Evaluate, using diagrams, the possible responses of the government to threats to sustainability, including legislation, carbon taxes,cap and trade systems and funding for clean technologies. Explain, using examples, that government responses to sustainability threats are limited by the global nature of the problems and the lack of ownership of common access resources, Effeeffective responsrequires the international cooperation unit 3: macroeconomic Demand Management(Demand-Side Policies)226; "What?" Monetary policy 3.6 Demand management Tax Policy 3.7 Topical supply-side policies: Sub-Monkey Trends Points to be understood (both for SL and HL, unless otherwise indicated) The pattern of the circular flow of income Describe, using a diagram, the circular flow of income between households and enterprisesin a closed economy without government. Identify the four factors of production and their payments (rent, wages, interest and profit) and explain that they constitute the income stream in the model. Indicate that the income stream is numerically equivalent to the expenditure flow and the value of the production flow. Describe, using a diagram, thecircular flow of income in an open economy with government and financial markets, with reference to losses/withdrawals (savings, taxes and charges on imports) and injections (investments, government expenditure and export revenue). Explain how the size of the circular flow will change depending on the relative size of the injections and leaks.Measurements of economic activity: Gross Domestic Product (GDP) and Gross Domestic Product (GNP) or Gross Domestic Income (GNI) Difference between GDP and GNP/GNI as measures of economic activity. Distinguish between the nominal value of GDP and GNP/RNL and the real value of GDP and GNP/RNL. Distance between total GDP andGNP/GNI and GDP per capita and GNP/GNI. Examine the production, income and expenditure approach in measuring national income. Evaluate the use of national income statistics, including their use to make comparisons over time, to make comparisons between countries and to draw conclusions on living standards. Explain the meaning andmeaning of'green GDP', a measure of GDP that takes account of environmental destruction. Calculate nominal GDP from national income data series using the expenditure approach. (HL SOLO) Calculates the GNP/RNL from the data (HL SOLO) Calculates the real GDP using a price deflator (HL SOLO) Flows to term and long-term trend Explain,using a diagram of the economic cycle, that economies tend to suffer typically Cyclical trend characterized by the phases of the economic cycle. Explain the tendency to long-term growth in the activity cycle diagram as the potential production of the economy. Distinguishable between a decrease in GDP and a decrease in GDP growth. One of the mostimportant parts of your college application is what classes you choose to take high school (in combination with how well you do in those classes). Our prepscholar admissions experts have collected their knowledge in this unique guide to plan your high school program program. We will advise you how to balance your program between regular coursesand AP / IB courses, how to choose your extracurricular programs, and what classes you can't afford not to take. Topic: Macroeconomic objectives Subtopic IB Points to Understanding (for SL and HL, unless otherwise indicated) The meaning of unemployment defines the term unemployment. Explain how the unemployment rate is calculated. Explainthe difficulties in measuring unemployment, including the existence of hidden unemployment, the existence of a underemployment and the fact that it is an average and therefore ignores regional, ethnic, ethnic and gender disparities. Calculate the unemployment rate on a number of data. (HL) consequences of unemployment will discuss possibleeconomic consequences of unemployment, including GDP loss, tax revenue loss, increased cost of unemployment benefits, income loss for people and greater disparities in the distribution of Income. Discuss the possible personal and social consequences of unemployment, including the increase in crime rates, the increase in stress levels, increaseddebt, the absence of domicile and family exhaustion. Types and causes of unemployment describe, using examples, the meaning of Friction, structural, seasonal and cyclical (question deficiency). Distings between the causes of frictional, structural, seasonal and cyclic unemployment (application shortage). Explain, using a diagram, cyclical cyclical iscaused by a drop in aggregate demand. It explains, using a diagram, that structural unemployment is caused by changes in the demand for particular labour skills, changes in the geographical location of industries and rigidities in the labour market. Evaluate government policies to address different types of unemployment. The meaning of inflation,disinflation and deflation distinguish between inflation, disinflation and deflation. He explains that inflation and deflation are typically measured by calculating a consumer price index (CPI), which measures the change in prices of a basket of goods and services consumed by the average household. It explains that different income gains can experiencea different rate of inflation when their consumption pattern is not accurately reflected by the CPI. He explains that inflation figures may not accurately reflect changes in consumption patterns and the quality of purchased products. He explains that economists measure a core/underlying inflation rate to eliminate the effect of sudden swings in foodand oil prices, for example. It explains that a producer price index measuring changes in factor prices can be useful in predicting future inflation. Build a weighted price index, using a set of data provided. (HL only) calculate the inflation rate from a set of data. (HL only) The Consequences of Inflation discusses the possible consequences of a high rateof inflation, including increased uncertainty, redistributive effects, lower savings and damage to export competitiveness. The consequences of deflation discuss the possible consequences of deflation, including high levels of cyclical unemployment and bankruptcies. Types and Causes of Inflation Explains, using a diagram, that demand-shaped inflationis caused by in the determinants of the announcement, with consequent increase of the announcement. Explain, using a diagram, that push-up inflation is caused by an increase in the cost of factors of production, with consequent decrease in Evaluate government policies to address different types of inflation. Possible relationships betweenunemployment and inflation (HL SOLO) discuss, using a Phillips short-term curve diagram, the view that there is a possible compromise between the unemployment rate and the inflation rate in the short term. Explain, using a diagram, that the Phillips short-range curve can move outwards, resulting in stagflation (caused by a decrease in SRAS due tofactors including supply shocks). Discuss, using a diagram, the view that there is a long-term Phillips curve vertical to the natural rate of unemployment and therefore there is no compromise between the rate of unemployment and the rate of inflation in the long term. Explaining that the natural rate of unemployment is the rate of unemployment thatexists when the economy produces at the full level of production. The significance of economic growth defines economic growth as an increase in real GDP. Calculate the rate of economic growth from a set of data. (HL SOLO) Causes of economic growth to Describe, using a diagram of production possibilities (PPC), economic growth as an increase inactual production caused by factors such as the reduction of unemployment and the increase in productive efficiency, leading to a movement of a point within the PPC to a point closer to the PPC. Describe, using a PPC diagram, economic growth to as an increase in production possibilities caused by factors such as the increase in the quantity andquality of resources, leading to changes of PPC outward. Describe, using an LRAS diagram, economic growth to as an increase in potential production caused by factors such as the increase in quantity and quality of resources, leading to a right-hand change of the LRAS curve. Explain Investments for economic growth, referring to investments inphysical capital, human capital and natural capital. Explain the importance of greater productivity for economic growth. Consequences of economic growth Discussion Discussion possible consequences of economic growth, including possible impacts on living standards, unemployment, inflation, income distribution, current account balance ofpayments and sustainability. The meaning of equity in income distribution explains the difference between equity in income distribution and equality in income distribution. Explain that due to the unfair ownership of the factors of production, the market system cannot result in a fair distribution of income. Indicators of income equality/inequalityAnalyze data on relative income shares of certain percentages of the population, including decimals and decimals. Draw a curve of Lorenz and explain its meaning. Explain how the Gini coefficient is derived and interpreted. Poverty stands out between absolute poverty and relative poverty. Explain the possible causes of poverty, including lowincomes, unemployment and lack of human capital. Explain the possible consequences of poverty, including low living standards, and lack of access to health care and education. The role of taxation in promoting the distinction between direct and indirect taxes, providing examples of each, and explains that direct taxes can be used as a mechanism forredistributing income. The distinction between progressive, regressive and proportional taxation, giving examples of each. Calculate the marginal tax rate and the average tax rate on a series of data. (HL SOLO) Other measures to promote equity Explain that governments incur expenses to provide directly, or to subsidise, a variety of sociallydesirable goods and services (including health care services, education and infrastructure including sanitation and clean water supplies), to make them available to those on low incomes. long-term transfer payments and provide examples, including old-age pensions, unemployment benefits and child benefits The relationship between fairness andefficiency of the evaluation government Promote equity (taxation, public expenditure and transfers) with respect to potential positive or negative effects on resource allocation efficiency. Topic: Aggregate demand and aggregate supply Sub-topic IB Points to understand (both for SL and HL, unless otherwise indicated) Curve AD Distinguish betweenthe microeconomic concept of demand for a product and the macroeconomic concept of aggregate demand. Build an aggregate demand curve. Explain why the AD curve has a negative slope. Components of AD Describe consumption, investment, government expenditure and net exports as components of aggregate demand. Determinants of AD orcauses of changes in the AD curve Explain how the AD curve can be changed by changes in consumption due to factors such as changes in consumer confidence, interest rates, wealth, personal income taxes (and thus disposable income) and household indebtedness. Explain how the AD curve can be modified by changes in investment due to factorssuch as interest rates, business confidence, technology, business taxes and the level of corporate debt. Explain how the AD curve can be modified by changes in public expenditure due to factors such as political and economic priorities. Explain how the AD curve can be modified by changes in net exports due to factors such as the income of tradingpartners, exchange rates and changes in the level of protectionism. Meaning of aggregate supply Describe the term aggregate supply. Explain, using a diagram, why the short-term aggregate supply curve (SARS curve) is inclined upwards. Explain, using a diagram, how the short-term AS curve (SRAS) may change due to factors such as changes in theprices of Changes in business taxes and subsidies and supply shocks. Alternative views of the aggregate supply Explain, using a diagram, that the monetarist/new classic of the long-term aggregate supply curve (LRAS) is vertical to the potential level (full use production) since long-term aggregate supply is independent of price level. Explain, using adiagram, that the Keynesian model of the aggregate supply curve has three sections due to downward wage/price rigidity and different levels of spare capacity in the economy. Shifting the long-term aggregate supply curve Explain, using the two models mentioned above, how the factors driving changes in the quantity and/or quality of the factors ofproduction (including efficiency improvements, new technologies, reductions in unemployment and institutional changes) can change the long-term aggregate supply curve using the two models mentioned above. Short-term equilibrium Explain, using a diagram, the determination of short-term equilibrium using the SARS curve. Examine, usingdiagrams, the impacts of changes in the equilibrium in the short term. Equilibrium in the monetarist model/new classic Explain, using a diagram, the determination of the long-term equilibrium, indicating that the long-term equilibrium occurs at the level of full production employment. Explain why, in the monetarist/new classic approach, while theremay be short-term fluctuations in output, the economy will always return to the level of full employment of output in the long run. Examine, using diagrams, the impacts of changes in the long-term equilibrium. Equilibrium in the Keynesian Model Explain, using the Keynesian diagram AD/AS, that the economy can be in equilibrium at any real outputlevel where AD intersects AS. Explain, using a diagram, that if the economy is in equilibrium at a level of real output lower than the level of full output employment, then there is a deflationary (recessionary) gap. Discuss why, unlike the monetarist/new Classic, the economy can remain stuck in a deflationary (recessionary) gap in the Keynesian model.Explain, using a diagram, that if the AD increases in the vertical section of the AS curve, then it is an inflation differential. Discuss why , in contrast to the monetarist/new classic classic The increase in aggregate demand in the Keynesian AD/AS model, does not need to be inflationary, unless the economy functions close to, or at, the level of fullemployment. The nature of the Keynesian multiplier (HL only) explains, with reference to the concepts of leakage (withdraw

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