Practice Evaluation Framework (3.3) - Key Skills for MYP Economics - IB 10 Individuals & Societies

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9 questions

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6 sample questions

Question 1.
Define what a tariff is.
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Think about how governments protect local industries.
Question 2.
What is fiscal stimulus?
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Consider government actions during a recession.
3Question 3.
What is the primary purpose of tariffs?
- To increase tax revenue
- To protect domestic industries
- To regulate exports
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Think about why countries use tariffs.
4Question 4.
True or False: Fiscal stimulus can lead to increased national debt.
- True
- False
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Consider the financial implications of government spending.
Question 5.
Discuss the trade-offs involved when a government imposes tariffs on imports. What are the immediate benefits and potential long-term drawbacks?
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Think about both sides of the economic equation.
Question 6.
Analyze a case where fiscal stimulus was used in response to a recession. What were the outcomes, and what could have been done differently to enhance effectiveness?
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Look at examples like the 2008 financial crisis and the policies implemented afterward.

5 more questions in this section. Enroll free to practise them all.