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What is the perfect technique for reaching the top marks in the longer essay questions?

The key for a good 30 marker is sticking to the same tried and tested method. Start off by defining any key terms in your introduction and potentially referencing data you may have been given. Then in the he...
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Answered by Louis G. • Economics tutor
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1. What is a floating exchange rate system and what factors influence the level of a country’s exchange rate?

A floating exchange rate is when the price of money is determined only by demand and supply, no government intervention occurs. The factors, which influence the level of a country’s exchange rate are the dem...
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Answered by Zoe G. • Economics tutor
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What is price elasticity of demand and how is it measured?

Price elasticity of demand (PED) measures the responsiveness of percentage change in the quantity demanded of a good with respect to a percentage change in the price of a good. It is measured by the formula:...
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Answered by Hadiqa Z. • Economics tutor
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Why is GDP not an accurate measure of economic growth?

GDP is a monetary value, it is the "total money value of all final goods and services produced in an economy in one year," therefore it fails to take into consideration any social indicators, where...
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Answered by Muna A. • Economics tutor
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How should I structure IB Economics Paper 1 style questions?

Part (a) 10 marks, Explain... (15 minutes approx). -Plan your answer (5 mins) Make sure to include: -Definitions of key terms -Graphs -Explanations for graphs and theory/concepts, backed up with examples To ...
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