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IB Economics HL 3.4.1 Equality and Equity Questions

Practise 3.4.1 Equality and equity 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

  • Equality and equity are related but distinct concepts
  • Equity involves fairness and may require normative judgment

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Study 3.4.1—Equality and equity conceptsOpen the corresponding Concept lesson for explanations, examples and exam connections.

IB Economics HL 3.4.1 Equality and Equity Questions question 1

[Maximum number: 2]

The following information provides a simplified version of the calculation of a consumer price index (CPI).

In Country A, the rate of inflation is measured by the calculation of a CPI. The index is calculated using the five products which are purchased by citizens of Country A as representative of a "typical basket of goods".

The weighting given to each product is based on the quantities of each product purchased by the average household in Country A per week.

Table 1

Table 1

Assume that 2015 is the base year for the purpose of calculating the CPI.

With reference to the distribution of income, distinguish between equity and equality.

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