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IB Economics HL 2.12.1 Hl Free Markets and Inequality Questions

Practise IB Economics HL 2.12.1 by explaining how factor ownership and market rewards can produce unequal income distribution, using marked exam evidence.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Define equity and explain why a market system may produce an inequitable income distribution.
  • Trace how private ownership of factors of production can create unequal returns and income.
  • Use Lorenz curves or income shares by quintile or decile to illustrate inequality.
  • Apply real-world examples to explain differences in market income distribution.

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