Steve has taught A Level, GCSE, IGCSE Business and Economics - as well as IBDP Economics and Business Management. Paper 3 examines assessment objectives 1, 2 and 4. com. GDP deflator = base year index (usually 100) + rate of inflation. Mar 20, 2019 · Perfect Competition Definition: A market with Perfect Competition is defined as having an unlimited number of buyers and sellers, perfect information (eg. Because there are only a few firms (players) in an Oligopoly, they tend to be highly interdependent of one another – meaning they will take in account each others’ actions when trying to compete in the market. Explain why an economy achieves equilibrium at any level of output in the Keynesian model. An amazing selection of past exam papers and concise solutions and explanations. You can find official IB Economics study resources, including practice questions, on the IB Follett online store. IBMYP Chemistry . IBMYP Biology Sample Paper 1. 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