School IB economics: Artemis is a throwback to the golden age of lunar exploration

This article picked by a teacher with suggested questions is part of the Financial Times free schools access programme. Details/registration here.

Specification:

• IB DP economics: 1.1 What is economics; 2.8 Market failure — externalities

In the past, space exploration has led to the following discoveries: Memory foam, scratch-resistant eyeglasses, training shoe cushioning, ear thermometers, artificial limb development, solar panels, LED lighting and freeze-dried food.

Read the article and then answer the questions:

Artemis is a throwback to the golden age of lunar exploration

Questions

• Using a production possibility diagram, explain the opportunity cost of the Artemis 2 space exploration project for the US economy [10]

• Explain the possible positive externalities associated with space exploration [10]

Alex Smith, Sevenoaks School, InThinking/thinkIB