Practise IB Economics SL 3.4.5 by explaining causes of income inequality and poverty, including economic, social and policy factors, with marked exam evidence.
Explain how an economic recession can lead to an increase in absolute poverty.
Answers may include:
- definitions of economic recession, absolute poverty
- diagram to show a fall in AD
- explanation that a recession can lead to a fall in GDP, an increase in unemployment and falling incomes leading to a rise in absolute poverty
- examples of how a recession has increased absolute poverty.
Assessment Criteria
Part (a) 10 marks
Level 0 (0 marks): The work does not meet a standard described by the descriptors below.
Level 1 (1-3 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 (4-6 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 (7-8 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 are few errors.
Level 4 (9-10 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 are no significant errors.