| Country | Cars (hrs) | Wheat (hrs) | |---------|------------|--------------| | USA | 10 | 5 | | UK | 20 | 10 |
Total spending on a nation's goods and services. ib economics hl formula booklet repack
ΔTΔYthe fraction with numerator cap delta cap T and denominator cap delta cap Y end-fraction | Country | Cars (hrs) | Wheat (hrs)
ΔTCΔQthe fraction with numerator cap delta TC and denominator cap delta cap Q end-fraction Profit Maximisation Rule: Revenue Maximisation Rule: Allocative Efficiency: Productive Efficiency: Section 2: Macroeconomics (Unit 3) ib economics hl formula booklet repack
is the area between the line of perfect equality and the Lorenz curve, and is the area under the Lorenz curve. Scale: (perfect equality) to (perfect inequality). Strategic Tips for IB Economics Paper 3