Glossary of IB Economics Terms
To excel in IB Economics, students need to have a good understanding of Economics Terminology. This is can be rather daunting for most students. In this page, we created a glossary of IB Economics terms to help students search for Economics definitions in just a few clicks. We hope you will find this tool useful.
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IB Economics Terms
There are 1 names in this directory beginning with the letter Z.
Zero economic profits
Imply that total revenues are in total (economic) costs. Since normal profits are introduced in (economic) costs, it follows that a firm earning in economic profits is making just enough to remain in business (i.e. making normal profits)