Economics Resources

Glossary of IB Economics Terms

IB HL and SL Economics Glossary

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There are currently 4 names in this directory beginning with the letter R.

Rationing is a way that scarce goods (or services or resources) are allocated or the distribution/allocation of a good (or service or resources) among users (consumers), or a method of distributing a good when there is a shortage.


Real wage
real wage is the payment for labor/working adjusted for inflation.

Recession is at least two consecutive quarters of negative economic growth.

Regressive tax
Regressive taxes are where the proportion of income paid in tax falls as the income of the taxpayer rises or where the average rate of tax falls as income rises
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