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 ▸

What are positive externalities of consumption? Explain with a diagram and give an example.


Explain three difficulties economists face when they try to measure unemployment accurately.


Explain why a firm in perfect competition can not experience abnormal profit in the long run.


How many diagrams do I have to draw in an answer, and how do I use them in my answer?