How to I approach the 10 mark question on paper 1?
Start by defining the key economic terms which are used in the question. This is absolutely essential. After your definitions move on to the next paragraph. In the second paragraph you need to explain the relavant economic theory. A diagram is almost always necessary. In the final paragraph include a real life example. This is key to scoring in the 8-10 point range.
AL
Related Economics IB answers
All answers ▸Evaluate the view that fiscal policy is the most effective way of achieving long-term economic growth
Discuss the possible consequences of the imposition of an indirect tax on cigarettes for the different stakeholders in the market.
What are automatic stabilisers?
How can a government manipulate floating exchange rate?