IB Economics HL Internal Assessment Example

Relevant tariff diagrams are included and the main market-direction change is shown clearly enough to support the commentary.

The diagrams use economic labels such as domestic demand, domestic supply and world supply, which gives the response a sound visual foundation.

The accompanying explanation shows that the student understands the basic logic of tariffs and how a tariff reduction affects prices and imports.

The welfare areas are not consistently or accurately labelled, so the shaded sections do not fully match the tariff changes described.

The post-policy diagram does not clearly align with the article’s tariff reduction from 27.5% to 15%, which weakens accuracy.

The explanation of consumer surplus, government revenue and welfare change is only partial and sometimes mismatched to the diagram.

A broad and appropriate range of economic terminology is used, including tariff, protectionism, free trade, comparative advantage, consumer surplus, producer surplus and government revenue.

The terminology is generally integrated into the commentary rather than simply listed.

Most of the technical language is used in a way that supports the argument about the US–Japan automobile agreement.

A few terms are used imprecisely, such as describing lower import taxes as increasing Japanese supply rather than changing the tariff-inclusive import price and quantity imported.

Some market language is slightly loose, especially when describing the movement from one quantity to another as an equilibrium change.

The discussion would be stronger if every key term were consistently tied to the exact market mechanism.