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IB Economics SL 2.8.4 Common Pool Resources Questions

Practise IB Economics SL 2.8.4 by defining common pool resources, explaining how absent price mechanisms cause depletion, and analysing resulting market failure with marked exam evidence.

Syllabus
First assessment 2022
Course
Economics SL
Level
SL

Exam points

  • Define common pool resources as non-excludable and rivalrous resources.
  • Explain how the absence of a price mechanism can cause overuse and depletion of common pool resources.
  • Explain how overuse of common pool resources creates negative externalities, market failure and threats to sustainability.
  • Use demand-and-supply, externality or PPC diagrams to analyse common pool resource depletion and its consequences.

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