How can I achieve a top grade?
Economics is all about models involving assumptions and diagrams. So whenever you're answering a question, you must identify the assumptions relating to it, draw a diagram illustrating your argument and give a detailed explaination of the diagram. Top mark answers will further include examples and evaluation of the economic theories and policies.
SY
Related Economics IB answers
All answers ▸In micro-economics, why is a demand curve downwards sloping?
How would you explain, in your own words, the concept of "Decreasing Returns to Scale"?
Why do firms in perfect competition earn normal profit in the long run
How does an Expansionary Fiscal Policy affect the Real GDP of an Economy?