IB Economics SL Internal Assessment Example

Two relevant diagrams included with accurate labels and correctly positioned curves.

Full and accurate explanations of welfare-loss, tax shift and incidence within the text.

Linking of elasticity changes over time back to the diagrammatic analysis.

Minor presentational imperfections (ambiguous ‘S = MSC = MPC’ label, slight crowding of labels).

Curves could be more distinctly separated and axes/key points (Q₁, Qopt) explicitly annotated in captions for clarity.

Economic terminology (negative externality, MPB/MSB, welfare loss, inelastic demand, market failure) is used correctly and consistently.

Technical terms are integrated effectively to support the analysis.

Occasional awkward phrasing and use of quotation marks around “potential” introduce ambiguity.

Terminology could be further refined with more precise alternatives (e.g., ‘likely’ or ‘probable’).