IB Economics notes on 3.1 Indirect taxes

The demand curve usually slopes downward as price increases because more people can no longer afford the product.

ECONOMIC DEVELOPMENT VS GROWTH Economic Growth Economic Development Increase in output and income overtime Measured by positive levels of GNP/GDP/GDP per capita It does not consider impact on people’s standards of living or state of wellbeing /welfare Increases in real per capita output and incomes Focuses on improvements in standards of living of the population resulting from economic growth. Measured by HDI – Human Development Index

The economic impact of a no-deal Brexit is easier to predict over the long term than the short term

IB Economics notes on 3.1 Indirect taxes

I teach IB Economics in Santiago, Chile. As a former Peace Corps Volunteer, a graduate of Duke University, and someone who has been fortunate enough to have ...