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IB Economics HL 2.7.2 Main Forms of Intervention Questions

Practise 2.7.2 Main forms of intervention in IB Economics HL by reviewing the concepts and applying them to marked questions.

Syllabus
First assessment 2022
Course
Economics HL
Level
HL

Exam points

  • Main tools include price ceilings, price floors, indirect taxes, subsidies, direct provision, command and control regulation, and legislation
  • Diagram: price ceiling, price floor, indirect tax, and subsidy with effects on markets and stakeholders

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Study 2.7.2—Main forms of intervention conceptsOpen the corresponding Concept lesson for explanations, examples and exam connections.

IB Economics HL 2.7.2 Main Forms of Intervention Questions question 1

[Maximum number: 2]

Draw and label on Figure 1 a curve that illustrates the price floor in Nissos that leads to a monthly surplus of 3 million kg of corn.

The monthly corn surplus created must be purchased by the government of Nissos.

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