IB Economics HL Internal Assessment Exemplar: Microeconomics: Economic well-being

You included two relevant microeconomic diagrams that matched the article’s policy context.

Your diagrams were neat and easy to follow, with visible axes, curves, and labels.

The diagrams helped show the problem of overconsumption and the policy response through taxation.

Some labels and equilibrium conditions were not fully accurate.

The written explanation did not always match the diagram exactly.

A few welfare areas were identified but not clearly mapped on the figure.

You used a wide range of relevant economic terminology accurately overall.

Your language stayed closely linked to the article and the tobacco-tax policy.

Terms such as negative externality, welfare loss, indirect tax, tax incidence, and inelastic demand helped give your commentary an economic focus.

A few terms were used a little loosely in places.

Some production-cost language was mixed into a consumption-externality model.

Definitions and applications of regressive tax and tax incidence could be more precise.