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IB Economics practice exam generator (Paper 1, 2 & 3)

ExamTeX generates printable IB Economics mock papers in the style of the real exam, which has Paper 1 (extended response, 25 marks, 75 minutes), Paper 2 (data response, 40 marks, 105 minutes), and HL Paper 3 (policy paper, 60 marks, 105 minutes). Pick the IB Economics style and set the question mix to mirror the paper you are practising; questions come from your unit notes or the syllabus and use the command terms and mark tariffs IB examiners use (Define, Explain, Analyse, Discuss, Evaluate, Examine). A complete mark scheme is generated alongside every paper. Works for both Standard and Higher Level.

Paper 1

Extended response. Choose 1 of 3 questions. Tests command-term writing (a: 10 marks, b: 15 marks).

Marks: 25 marksTime: 1h 15mWeight: SL 30% · HL 20%

Paper 2

Data response with stimulus material. Mix of definitions, diagrams, calculations and a 15-mark evaluation.

Marks: 40 marksTime: 1h 45mWeight: SL 40% · HL 30%

Paper 3 (HL only)

Policy paper. Quantitative work, diagrams, plus a 10-mark recommended-policy response.

Marks: 60 marksTime: 1h 45mWeight: HL 30%

Start with a free IB Econ practice exam

Try a ready-made IB Economics practice exam first — Two Paper 2-style data-response questions (micro + macro) and a Paper 3 HL quantitative question, with a full mark-scheme-style answer key. View it online or download the print-ready PDF, free with no signup. The worked answer key is emailed to you.

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Sample question with mark scheme

(a) Explain, with the help of a diagram, why the imposition of an indirect tax may lead to an underallocation of resources to a market with positive externalities of consumption. [10]
Show mark scheme
Level 3 (9–10): Diagram of negative welfare loss correctly drawn (MSB > MPB; tax shifts MSC further from MSB); explanation references underallocation, deadweight loss, and uses real-world example. Level 2 (5–8): Diagram present but incomplete; partial explanation. Level 1 (1–4): Definition-only response or inaccurate diagram.

Every generated paper includes a full mark scheme with worked solutions.

Common mistakes IB Econ students make

  • Confusing "Explain" (10 marks, no judgement required) with "Evaluate" (15 marks, judgement required) and losing 5 marks on every essay.
  • Drawing diagrams without labelling axes correctly (price/quantity) or omitting the curve labels (MSC, MSB, MPC, MPB).
  • Using real-world examples that are too generic ("e.g. fast food") instead of named, dated, country-specific cases.
  • In Paper 3, doing the calculation correctly but forgetting to evaluate the policy in the final 10-mark question.

Frequently Asked Questions

Can ExamTeX generate IB Economics Paper 1 questions?

Yes. Add extended-response questions with the IB Economics style and ExamTeX writes them with IB command terms, with Discuss or Evaluate questions carrying 15 marks; you can adjust point values in the editor to match Paper 1's 10 + 15 split. Each question comes with a mark scheme listing the key points an IB examiner would credit.

Does it work for both SL and HL?

Yes. Questions are kept answerable at both levels unless your material is clearly HL-only, so upload HL content (or say so in the instructions box) for HL-specific practice. You set the question mix and time limit to mirror the paper you are practising.

Will the diagrams in the mark scheme match the IB style?

Mark schemes describe the expected diagrams (labels, shifts, areas of welfare loss/gain) so you can self-grade. ExamTeX renders mathematical and economic notation in LaTeX for clean print output.

Does ExamTeX cover the current IB Economics syllabus (first exams 2022)?

Yes. The IB Economics style uses the current command-term hierarchy, and questions come from the syllabus PDF or unit notes you upload, so they stay within the current content across the four units (Introduction, Microeconomics, Macroeconomics, The Global Economy).

How is this different from Revision Village or Save My Exams?

Revision Village and Save My Exams have curated past-paper banks. ExamTeX generates fresh practice papers tailored to the specific notes or syllabus sections you upload, so you can target your weak topics with unlimited unique questions in the IB format.

Or generate other study materials

IB Econ FlashcardsIB Econ Study PodcastIB Econ Summary

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