Sample 2

IB Economics: Sample 2

(a) (i) Define the term aggregate demand indicated in bold (Text A, paragraph 4). [2]Aggregate demand is total demand in the whole economy from firms and households. Mark awarded 1This definition needed more detail and it is better with the use "expenditure" rather than "demand" in the definition. The answer could also have included the government sector and foreign sector which also contribute to aggregate demand.


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