Question 21N.1.HL.TZ0.b
| Date | November 2021 | Marks available | [Maximum mark: 15] | Reference code | 21N.1.HL.TZ0.b |
| Level | HL | Paper | 1 | Time zone | TZ0 |
| Command term | Discuss | Question number | b | Adapted from | N/A |
Discuss the view that economic growth always leads to rising living standards.
[15]
Marks should be allocated according to the paper 1 markbands for May 2013 forward, part B.
Answers may include:
- definition of economic growth
- AD/AS diagram showing increasing real GDP, negative externality diagram, PPC diagram, poverty cycle diagram or Lorenz curve diagram
- an explanation of the impacts economic growth might have on living standards through changes in employment, tax revenue used to finance government spending, sustainability in resource use and the distribution of income
- examples of cases where economic growth has led to changes in the standard of living
- synthesis or evaluation (discuss).
Discussion may include: the advantages and disadvantages of economic growth, the extent to which economic growth affects different stakeholders and material and non-material aspects of the standard of living, consideration of the word “always”.
NB It should be noted that definitions, diagrams, theory and examples that have already been given in part (a), and then referred to in part (b), should be rewarded.
Examiners should be aware that candidates may take a different approach which, if appropriate, should be rewarded.
A generally well answered question with some excellent examples and discussion that considered a range of positive and negative effects of economic growth on living standards.
