IB Economics HL Internal Assessment Example

You included relevant externality diagrams and the first one is accurately drawn, labelled, and clearly tied to the welfare loss created by overconsumption.

Your diagram explanation shows a solid grasp of the private-versus-social optimum and correctly interprets the deadweight welfare loss.

The second diagram misrepresents a legal ban as a simple leftward shift in MPB, which is not theoretically accurate.

Because the policy diagram is flawed, the diagrammatic support for your argument is weakened overall.

You use economic terminology consistently and in context, including market failure, demerit good, imperfect information, negative externalities, deadweight welfare loss, and opportunity cost.

Most of the vocabulary is applied appropriately to the article and helps build an economic explanation rather than a purely descriptive summary.

Some phrasing is slightly imprecise, especially where the ban is treated as reducing the market failure itself rather than changing the legal ability to buy the product.

A few terms could be distinguished more carefully, such as demand shifts versus policy restrictions on supply or consumption.