The foundations of economics (1.1) - Student workpoints (1.1-1.5)

Student workpoints from section 1.1. Made to give an example of how I personally would answer the questions, and may give some insight to essay type question in the IBO exam. If you want to use these, be sure to have a book, because I am uncertain whether I'm allowed to copy paste the book. I won't advice you to use my answers for anything but help and an inspiration for how to answer them yourself.

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Student Workpoint 1.1

Please read the description first :)

1. Food, water, electricity, internet, computer, tv, books, cellphone (smartphone), car and cigarettes

2.  Food, water, electricity, tv, cellphone (old phone), books, sunshine and happiness. The reason for number 1 and 2 being different is mainly due to the difference in generations, where the newest generation may be dependent on things such as our smartphones and internet, where the older generations may not be used to these things, so they may not be as essential to them as they are to newer generations

3. Food, water, shelter, rain. Depending on the continent, in my case, Africa, the needs of the individual vary, especially if that person has grown up in a poorer community than someone else. If they are grown up in a poor community, there needs can be more basic than someone living in a richer community

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Student Workpoint 2.2

1. Since I am from Denmark I used this link:

2. Most of the countries classified as having a 'low development' are from Africa and Asia

3. One of the patterns in low development is low education, health and income. Many of the countries has a dysfunctional government/democracy

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Student Workpoint 1.3

There are a number of measures leading to economic development, some of these include income levels, life expectancy and education

If we look at DPR Congo, currently the least developed country in the world (2012), who are fighting health problems such as malaria and HIV/AIDS, we can see that they are unable to achieve economic development before they combat developing measures such as their health problems. There are a number of ways they can do this, for example, they can increase education, making the public more aware of diseases and how to avoid them and further to train doctors and other specialists

This will also increase their economic development, as a more skilled and efficient workforce leads to greater profits for the individual, and in the end the state

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Student Workpoint 1.4

1. As we strive to achieve economic growth, we tend to get the cheaper solutions in order to save money. But this is straining on the environment, as the cheapest solutions are usually also the least sustainable solution. Therefore economic growth is not sustainable. If it were cheaper to produce in a sustainable way, more companies may be more likely to use sustainable production methods

2. Some of the other threats to a sustainable environment is the human behavior, we tend to buy the cheapest products and the easiest transportation methods - and as trains and buses are not always the easiest or fastest method, we would use taxi's or cars instead. Also there is a constant need for electricity, which is decreasing sustainability, as not all electricity providers offers 'green' electricity through solar and wind power, this does differ from provider to provider though.

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Student Workpoint 1.5


Very High Human Development - Norway  (0.943), Australia (0.929), Netherlands (0.910), United States of America (0.910) & New Zealand 0.908)

High Human Development - Uruguay (0.783), Palau (0.782), Romania (0.781), Cuba (0.776) & Seychelles (0.773)

Medium Human Development - Jordan (0.698), Algeria (0.698), Sri Lanka (0.691), Dominican Republic (0.689) & Samoa (0.688)

Low Human Development - Solomon Islands (0.510), Kenya (0.509), São Tomé and Príncipe (0.509), Pakistan (0.504) & Bangladesh (0.500)

I couldn't find anything about number 2

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Student Workpoint 1.5

3. There are currently 34 states in the OECD. These includes Denmark, France, Spain, Sweden & the USA

4. Emerging markets are the nations which are in a rapid growth and industrialization. Five of the emerging markets are China, India, Russia, South Korea & Mexico

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