IB Economics SL 3.1.5 Gdp Gni and Well Being Questions
Practise 3.1.5 GDP, GNI, and well-being in IB Economics SL by reviewing the concepts and applying them to marked questions.
- Syllabus
- First assessment 2022
- Course
- Economics SL
- Level
- SL
Exam points
- GDP and GNI statistics have limits when measuring economic well-being
- National income data can be used for comparisons over time and between countries
- Alternative well-being measures include the OECD Better Life Index, Happiness Index, and Happy Planet Index
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IB Economics SL 3.1.5 Gdp Gni and Well Being Questions question 1
[Maximum number: 15]
To what extent is the use of national income statistics an effective way of comparing the standard of living between countries?
Answers may include:
- definitions of national income and standard of living
- diagram: a diagram is not required for this question
- explanation of how national income statistics are an effective way of making comparisons between countries
- examples of how national income statistics have been used to compare countries
- synthesis or evaluation (to what extent).
Evaluation may include: consideration of the limitations of national income statistics to compare living standards such as: different methods of calculation, the impact of different types of output on living standards, environmental factors, crime levels, political instability, the exchange rate and income distribution.
NB Definitions, theory, and examples that have already been given in part (a), and then referred to in part (b), should be rewarded.
Examiners should be aware that candidates may take a different approach which, if appropriate, should be rewarded.
Opinions or conclusions should be presented clearly and should be supported by appropriate examples.
Assessment Criteria
Level 0 (0 marks): The work does not meet a standard described by the descriptors below.
Level 1 (1-5 marks): 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.
Level 2 (6-9 marks): 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.
Level 3 (10-12 marks): 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 is an attempt at synthesis or evaluation. There are few errors.
Level 4 (13-15 marks): There is clear 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 is evidence of appropriate synthesis or evaluation. There are no significant errors.
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