IB Economics SL 3.3.1 Economic growth
IB Economics SL 3.3.1 Economic growth
Students practise defining economic growth, calculating GDP growth rates from tables, and explaining short- versus long-term causes using AD/AS or PPC diagrams.
How this is tested
- define economic growth as a rise in real GDP per capita, not merely nominal output
- calculate annual GDP growth with the formula and round correctly using table data
- explain short-term growth via AD or SRAS shifts , and long-term growth via LRAS rightward shifts