Eggzams / IB exam practice questions / IB Economics
IB Diploma Programme
IB Economics practice questions, by topic
Eggzams has 1,400 original IB Economics questions for IB Diploma Programme, organised into 28 topics. Topics include Scarcity, Choice and Opportunity Cost, Positive and Normative Economics; Economic Systems, Production Possibilities Curve, Demand and Supply. Every question has an explanation after you answer, so a wrong answer becomes a mini-lesson.
Sample IB Economics questions
Here is the kind of question you will get, with the explanation that follows every answer. These are free in the app.
IB Economics · Theory of the Firm: Costs and Revenues
A bottling plant earns total revenue of $4120 and incurs total cost of $5210 in a given period. What is the firm's profit (or loss)?
- $4120
- $5210
- A profit of $1090
- A loss of $1090
Profit = total revenue - total cost = $4120 - $5210 = $-1090. Since this is negative, it is a loss.
IB Economics · Market Failure: Externalities
A positive externality is best described as:
- An uncompensated cost imposed on a third party
- A subsidy paid to producers
- An uncompensated benefit received by a third party
- A tax collected by the government
Positive externalities provide benefits to third parties who did not pay for those benefits.
IB Economics · Government Intervention: Price Controls
A minimum wage is a common real-world example of:
- A price ceiling
- An indirect tax
- A price floor
- A subsidy
A minimum wage sets a legal floor on wages, which is the price of labor, making it a form of price floor.
Topics covered: 28 topics, 1,400 questions
IB Economics on Eggzams is split into the topics below, so you can drill exactly the part you find hardest instead of working through a textbook in order. Each topic has its own progress tracker.
- Scarcity, Choice and Opportunity Cost
- Positive and Normative Economics; Economic Systems
- Production Possibilities Curve
- Demand
- Supply
- Market Equilibrium and Price Mechanism
- Price, Income and Cross Elasticity
- Price Elasticity of Supply
- Consumer and Producer Surplus; Market Efficiency
- Behavioural Economics and Business Objectives
- Government Intervention: Price Controls
- Government Intervention: Taxes and Subsidies
- Market Failure: Externalities
- Market Failure: Public Goods and Asymmetric Information
- Theory of the Firm: Costs and Revenues
- Market Structures: Perfect Competition and Monopoly
- Market Structures: Monopolistic Competition, Oligopoly and Price Discrimination
- Economic Activity and the Business Cycle
- Aggregate Demand and Aggregate Supply
- Economic Growth, Unemployment and Inflation
- Equity, Inequality and Poverty
- Fiscal Policy
- Monetary and Supply-Side Policy
- International Trade and Protectionism
- Economic Integration: Trading Blocs, Monetary Union and the WTO
- Exchange Rates and the Balance of Payments
- Economic Development and Sustainability
- Barriers to Growth and Development, and Development Strategies
How to practise IB Economics with Eggzams
Pick one topic, answer a short run of questions, and read the explanation after every answer, right or wrong. Repeat the topics where your accuracy is lowest. Questions come in easy, medium and hard, so you can build up in each topic and see the difficulty rise as you improve.
Try 5 questions in every topic, free
Create a free account to start. One $9.99 payment unlocks everything, with no subscription, ever.
Frequently asked
How many IB Economics practice questions does Eggzams have?
1,400 original questions across 28 topics, each with an explanation.
Are these real IB Economics past paper questions?
No. Every question is written from scratch and checked against the current syllabus. Eggzams never copies or reproduces past exam papers.
Is IB Economics practice free?
The first 5 questions in every topic are free once you create a free account. A one-time payment of $9.99 unlocks everything in the app, with no subscription.
Is Eggzams affiliated with the International Baccalaureate Organization?
No. Eggzams is an independent study aid, not affiliated with, authorised by, or endorsed by the International Baccalaureate Organization.
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