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The Group 3: Individuals and societies subjects of the IB Diploma Programme consist of ten courses offered at both the Standard level (SL) and Higher level (HL): Business Management, Economics, Geography, Global Politics, History, Information technology in a global society (ITGS), Philosophy, Psychology, Social and cultural anthropology, and World religions (SL only). [1]
The IB is a nonprofit organization, [22] selling its products and services to schools in a system analogous to a franchise network. Schools buy products and services from the IB – assessments, publications, the right to use branding – and in turn schools act as distributors, reselling the products and services to families. [23]
Market analysis is typically the neoclassical answer to price questions, such as why does an apple cost less than an automobile, why does the performance of work command a wage, or how to account for interest as a reward for saving. An important device of neoclassical market analysis is the graph presenting supply and demand curves.
The International Baccalaureate Diploma Programme (IBDP) is a two-year educational programme primarily aimed at 16-to-19-year-olds in 140 countries around the world. The programme provides an internationally accepted qualification for entry into higher education and is recognized by many universities worldwide.
Theory of Knowledge is a course created by the IB organization and must not be conceived as pure epistemology. This course involves a process of exploring and sharing students' views on "knowledge questions" (an umbrella term for "everything that can be approached from a TOK point of view"), so "there is no end to the valid questions that may arise", "there are many different ways to approach ...
[9] [10] Adam Smith provided the further clarification that capital is a stock. As such, its value can be estimated at a point in time. As such, its value can be estimated at a point in time. By contrast, investment , as production to be added to the capital stock, is described as taking place over time ("per year"), thus a flow .
Welfare economics is a field of economics that applies microeconomic techniques to evaluate the overall well-being (welfare) of a society. [ 1 ] The principles of welfare economics are often used to inform public economics , which focuses on the ways in which government intervention can improve social welfare .
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...