GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus cap G plus open paren cap X minus cap M close paren : Private Consumption : Private Investment : Government Spending : Export revenues : Import expenditures Gross National Income (GNI) Formula:
Total income earned by a nation's factors of production, regardless of location.
Opportunity Cost=Loss of Good YGain of Good XOpportunity Cost equals the fraction with numerator Loss of Good Y and denominator Gain of Good X end-fraction
Understanding costs, revenues, and profit maximization rules is critical for Paper 3 data response questions. Cost Formulas (Total Fixed Cost + Total Variable Cost) Average Total Cost (ATC): ib economics hl formula booklet repack
Simple but easy to mess up under pressure. How to Memorize Your Repack
Current Account=Balance of Trade in Goods & Services+Net Income Flows+Net Current TransfersCurrent Account equals Balance of Trade in Goods & Services plus Net Income Flows plus Net Current Transfers
Marginal Revenue (MR)=ΔTRΔQMarginal Revenue (MR) equals the fraction with numerator cap delta TR and denominator cap delta cap Q end-fraction GDP=C+I+G+(X−M)GDP equals cap C plus cap I plus
The Terms of Trade index measures the relative price competitiveness of a nation's exports against its imports.
PED=%ΔQd%ΔPPED equals the fraction with numerator % cap delta cap Q sub d and denominator % cap delta cap P end-fraction
This public link is valid for 7 days and shares a thread, including any personal information you added. This link or copies made by others cannot be deleted. If you share with third parties, their policies apply. Can’t copy the link right now. Try again later. How to Memorize Your Repack Current Account=Balance of
In IB Economics, the math is rarely "hard" calculus; it is simple arithmetic applied to complex concepts. The repack helps you stay focused on the concept rather than getting lost in the numbers.
This is where the concept of a comes in. A formula booklet repack isn't just a copy of the official equations; it’s a strategically reorganized toolkit designed for speed, clarity, and application.