IB Economics HL 2.8.4 Common Pool Resources Questions

Answers may include:
- definitions of common access resources and negative externalities
- diagram to show negative externalities arising from overconsumption (depletion of common access resources) or production (environmental degradation as a by-product of production activities)
- explanation that overuse of common access resources can lead to environmental damage or resource depletion, which are forms of market failure, leading to negative externalities of production or consumption
- examples of how overuse of common access resources leads to negative externalities such as over-fishing, open-cast mining and deforestation.

Assessment Criteria

Level ..... Marks
0 The work does not meet a standard described by the descriptors below. ..... 0
1 There is little understanding of the specific demands of the question. Relevant economic terms are not defined. There is very little knowledge of relevant economic theory. There are significant errors. ..... 1-3
2 There is some understanding of the specific demands of the question. Some relevant economic terms are defined. There is some knowledge of relevant economic theory. There are some errors. ..... 4-6
3 There is understanding of the specific demands of the question. Relevant economic terms are defined. Relevant economic theory is explained and applied. Where appropriate, diagrams are included and applied. Where appropriate, examples are used. There are few errors. ..... 7-8
4 There is understanding of the specific demands of the question. Relevant economic terms are clearly defined. Relevant economic theory is clearly explained and applied. Where appropriate, diagrams are included and applied effectively. Where appropriate, examples are used effectively. There are no significant errors. ..... 9-10