IB Economics HL
Questionbank
The IB Economics HL (Higher Level) Questionbank is a great source of practice questions, coming from the entire syllabus! Each question comes with a clear markscheme and solution video, with an experienced IB teacher going through the question step-by-step. The questions are organized by topic and arranged by difficulty, making it the perfect resource for studying a particular concept.
Topic 1
Foundations
Scarcity, Choice, and the PPC
Scarcity, Choice, Opportunity Cost, Production Possibilities Curve, Circular Flow Model
Topic 2 - Part I
Microeconomics Part I
Topic 2 - Part I All
All Questions in Topic 2 - Part I Microeconomics Part I
RV Free
Demand & Supply, Equilibrium
Law of Demand, Law of Supply, Determinants of Demand & Supply, Equilibrium, the Price Mechanism, Allocative Efficiency
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Elasticities
Price Elasticity of Demand (PED), Income Elasticity of Demand, Price Elasticity of Supply (PES)
RV Free
Behavioural Economics
Behavioural Economics, Alternative Business Objectives
RV Free
Topic 2 - Part II
Microeconomics Part II
Topic 2 - Part II All
All Questions in Topic 2 - Part II Microeconomics Part II
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Government Intervention
Taxes, Subsidies, Price Controls, Impact of Government Intervention
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Market Failure
Negative Externalities, Positive Externalities, Common Pool Resources, Public Goods, Asymmetric Information, Equity
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Market Power
Perfect Competition, Imperfect Competition, Monopoly, Costs, Revenue, Profit Maximisation
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Topic 3
Macroeconomics
Topic 3 All
All Questions in Topic 3 Macroeconomics
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Economic Output, AD & AS
Economic Activity, Business Cycle, Aggregate Demand, Aggregate Supply, Keynesian & New Classical/Monetarist Views of AS
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Macroeconomic Objectives
Economic Growth, Unemployment, Inflation, Sustainability
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Inequality & Poverty
Equality and Equity, Poverty, Addressing Poverty and Inequality
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Monetary Policy & Fiscal Policy
Monetary Policy, Money Creation, Fiscal Policy, Keynesian Multiplier, Evaluating Monetary Policy & Fiscal Policy
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Supply-Side Policies
Market-Based Supply-Side Policies, Interventionist Supply-Side Policies, Effectiveness of Supply-Side Policy
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Topic 4
The Global Economy
Topic 4 All
All Questions in Topic 4 The Global Economy
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Free Trade & Trade Protection
Benefits of Trade, Comparative & Absolute Advantage, Trade Protection, Arguments For & Against Trade Protection
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Economic Integration
Trade Agreements, Trading Blocs, Monetary Unions, World Trade Organization
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Exchange Rates & the Balance of Payments
Types of Exchange Rates, Currency Markets, The Balance of Payments (BOP), Impact of Current Account Deficits
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Economic Development
Single Indicators of Economic Development, Composite Indicators of Economic Development, Economic Growth
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Promoting Economic Growth & Development
Poverty Traps, Economic Barriers, Political and Social Barriers, Economic Growth Strategies
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More IB Economics HL Resources
Frequently Asked Questions
What is the IB Econ HL Questionbank?
The IB Economics HL Questionbank is a comprehensive set of IB Economics exam-style short answer questions and multiple choice questions, categorised into syllabus topics, and sortable by question type and difficulty. The bank of questions is accompanied by high-quality step-by-step markschemes and video tutorials, taught by experienced IB Economics teachers. The IB Economics HL Questionbank is the perfect exam revision resource for IB students looking to improve their skills for a particular topic or concept in their IB Economics Higher Level course.
Where should I start in the IB Econ HL Questionbank?
The IB Economics HL Questionbank is designed to help IB students practice Economics HL exam-style questions for a specific topic or concept. Therefore, a good place to start is by identifying a concept that you would like to practice and improve in and go to that area of the Economics HL Questionbank. For example, if you want to practice Economics HL exam-style questions covering monetary policy, you can go to Economics HL Topic 3 (Macroeconomics) and go to the Monetary Policy & Fiscal Policy area of the question bank. On this page there is a carefully designed set of IB Economics HL questions, progressing in order of difficulty from easiest to hardest. Question types include multiple choice questions, exam-style questions (short answer questions), and Paper 1 questions. If you’re just getting started with your revision, you could start at the top of the page with the easiest questions, or if you already have some confidence, you could start at the medium-difficulty questions and progress down.
How should I use the IB Econ HL Questionbank?
The Economics HL Questionbank is perfect for revising a particular topic or concept, in-depth. For example, if you want to improve your knowledge of the Balance of Payments, there are over 10 IB Economics HL exam-style question sets focused specifically on this concept. Alternatively, Revision Village also has an extensive library of Economics HL Practice Exams, where students can simulate the length and difficulty of an IB exam with the Mock Exam sets, as well as Economics HL Real World Examples: medium length case studies where students can practice their Paper 2 and Paper 3 skills while acquiring relevant RWEs across the syllabus.
What if I finish the IB Econ HL Questionbank?
With an extensive and growing library of full-length IB Economics HL exam-style questions in the Economics HL Questionbank, finishing all of the questions would be a fantastic effort, and you will be in a great position for your final exams. If you were able to complete all the questions in the Economics HL Questionbank, then a popular option would be to go to the Economics HL Practice Exams section on Revision Village and test yourself with the Mock Exam Papers, to simulate the length and difficulty of an actual IB Economics HL exam.