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IB Economics SL (renovations soon)
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Subdecks (5)
Global Economics
IB Economics SL (renovations soon)
14 cards
Macroeconomics
IB Economics SL (renovations soon)
127 cards
Introduction to Economics
IB Economics SL (renovations soon)
28 cards
Microeconomics
IB Economics SL (renovations soon)
96 cards
Cards (269)
In IB economics, there are 9 central concepts:
(Economic) Well-being
Interdependence
Scarcity
Efficiency
Choices
Intervention
Change
Equity
Sustainability
Together they form the acronym: WISE ChoICES
Microeconomics
The study of the behavior of individuals and firms in making decisions about scarce resources.
Macroeconomics
The study of economy on a national level and its performance as a whole
Global economy
The study of economic systems, actions, and policies between nations
See all 269 cards