Category Archives: Uncategorized

International Economics Definitions

Factor endowments are the factors of production that a country has available to produce goods and services. Specialization exists where a country specializes in the production of goods and services where they have comparative advantage in production. They will then trade to … Continue reading

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Data Response G4.3

Banks Making Big Profits From Tiny Loans    1.Explain how a microcredit system works. Microcredit systems are the extension of small loans to poor borrowers. They exist to spur entrepreneurship, increase incomes, and alleviate poverty, which in the end is … Continue reading

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Data Response E4.2

The Secrets of Cuban Medicine   1.Identify the indicators of development the article identifies as priorities for the Cuban government. The quality of health care as well as how easy it is to access them.   2. Examine the evidence … Continue reading

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The More the Merrier, or is it? (via Johanne’s Economic IB Blog)

An amazing post in understanding the basics of the Theory of cost. In order to fuly understand the basics of the Theory of cost, we did a game that reflected the same concept. The main aspects of the game was … Continue reading

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