Unit 2: Microeconomics
Topic 2.7: Role of Government in Microeconomics Questions
Practice 20 exam-style questions for IB Economics Topic 2.7. Review the question stems below, then unlock the full Question Bank to access markschemes, model answers, and AI grading.
1state3 marks
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State one possible objective of introducing a price ceiling on rent.
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State two reasons why a government might provide a subsidy.
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Explain one opportunity cost of providing subsidies.
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State two reasons why a government might provide a subsidy.
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State two reasons why a government might impose an indirect tax.
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Define a price floor (minimum price).
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Explain one opportunity cost of providing subsidies.
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Define a price ceiling (maximum price).
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Define a price ceiling (maximum price).
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State one objective of introducing a minimum wage.
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State one possible objective of introducing a price ceiling on rent.
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Define a price floor (minimum price).
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State one objective of introducing a minimum wage.
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State two reasons why a government might impose an indirect tax.
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Explain why a binding price ceiling can lead to black markets.
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