School IB economics: Have we passed peak social media?
This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.
Specification:
Unit 2.1, 2.8
Read the article and then answer the questions:
Have we passed peak social media?
Questions
Explain the human wants associated with the consumption of social media [4]
Explain how the law of diminishing marginal utility can be applied to the use of social media [4]
Using a demand and supply diagram, explain what has happened to the demand for social media since 2022 [4]
Using a cost-benefit diagram, explain why the consumption of social media might lead to market failure [4]
Explain how a decline in the use of social media might affect different stakeholders in an economy [10]
Alex Smith, Sevenoaks School, InThinking/thinkIB
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