IB Economics HL Internal Assessment Example

The student included a highly relevant diagram for a negative externality of consumption.

The main curves and labels are accurate, including the distinction between private and social benefit.

The diagram clearly shows overconsumption and a welfare-loss area tied to disposable-vape waste.

The explanation of the welfare-loss boundaries could be stated more precisely.

The wording around P1 and P2 is a little unclear.

The y-axis labelling could be made more conventional and easier to interpret.

The student used several relevant economics terms such as negative externality of consumption, market failure, marginal social benefit, and deadweight loss.

The terminology helps frame the commentary around a clear market-failure structure.

Some terms are not always used with full precision.

A few statements overgeneralise the policy impact beyond the disposable-vape market.

The explanation would be stronger if macroeconomic effects were separated more carefully from microeconomic ones.