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

Topic 1 All

All Questions in Topic 1 Foundations

Scarcity, Choice, and the PPC

Scarcity, Choice, Opportunity Cost, Production Possibilities Curve, Circular Flow Model

How Economists Approach the World

Economic Methodology, History of Economic Thought

Topic 2 - Part I

Microeconomics Part I

Topic 2 - Part I All

All Questions in Topic 2 - Part I Microeconomics Part I

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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)

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Behavioural Economics

Behavioural Economics, Alternative Business Objectives

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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 Econ HL Resources

Questionbank

All the questions you could need! Sorted by topic and arranged by difficulty, with mark schemes and video solutions for every question.

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Data Response Questions

Original Data Response Questions to develop skills in analysing and evaluating data that you need for Paper 2 and 3.

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Practice Exams

Choose your revision tool! Contains topic quizzes for focused study, Revision Village mock exams covering the whole syllabus, and the revision ladder to precisely target your learning.

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Past Papers

Full worked solutions to all past paper questions, taught by experienced IB instructors.