IB Economics HL 3.4.1 Equality and Equity Questions
Practise IB Economics HL 3.4.1 by explaining equality and equity using directly evidenced marked exam questions and mark schemes.
- Syllabus
- First assessment 2022
- Course
- Economics HL
- Level
- HL
Exam points
- Explain equality and equity.
IB Economics HL 3.4.1 Equality and Equity Questions question 1
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
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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