IB Economics SL Internal Assessment Example

The student included two relevant macroeconomic diagrams with titles, labelled axes, and clear intended links to the GST policy.

The short-run diagram is used effectively to support the student's explanation of how lower GST can raise consumption and output.

The first diagram uses output labels that imply potential output rather than actual output, which reduces precision.

The long-run diagram is too speculative because a GST cut does not directly cause an outward LRAS shift without additional justification.

The student uses a substantial range of relevant economic terminology appropriately in most places.

Terms such as aggregate demand, indirect tax, LRAS, unemployment, and economic well-being help make the student's argument coherent.

Some terminology is used imprecisely, especially when the student describes firms as having 'disposable income'.

The diagram labels also show inconsistency in the use of output terminology, which weakens overall precision.