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.
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Related Economics IB answers
All answers ▸What is the demand and the supply in a market ? How can you draw them how do you derive the optimal price and quantity *?
Explain three factors that could lead to an increase in demand for cigarettes.
What is the difference between a shift and a movement in the demand (or supply) curve?
Explain why GDP is a poor indicator of economic development, and why development is hard to measure