You need to have a good structure first and foremost. Begin with defining key terms, whatever they may be in the question or whether it's policies/effects that you plan on talking about. Your 25 markers should then ideally have either 2/3 KAA + Eval paragraphs with a judgement at the end. Your 25 markers should also have 2 solid diagrams, and they have to make extensive use of chains of reasoning. You have to assume the examiner knows nothing and walk them through each step of the economic theory rather than going from point A to point B in one step.
A micro example:
If you had a question on policies to reduce the consumption of sugary goods/services. It wouldn't be enough to say that a sugar tax would reduce the consumption of sugary products. You would have to explain that an indirect tax on products that contain sugar would act as an additional cost of production for suppliers --> this would shift the supply of these sugary products to the left --> thus the price of sugary products would increase and the quantity of sugary products sold would decrease.
Then you can evaluate by talking about whether an ad valorem or specific tax would be more effective, whether an indirect tax is regressive, and whether the PED for sugary products may override a small increase in the price of these products.
I hope this helps, honestly the best way to go about scoring highly on 25 markers is practice. I went from 12/13s to at least 17/18s just before my recent exams, so it's definitely a practice thing.
A micro example:
If you had a question on policies to reduce the consumption of sugary goods/services. It wouldn't be enough to say that a sugar tax would reduce the consumption of sugary products. You would have to explain that an indirect tax on products that contain sugar would act as an additional cost of production for suppliers --> this would shift the supply of these sugary products to the left --> thus the price of sugary products would increase and the quantity of sugary products sold would decrease.
Then you can evaluate by talking about whether an ad valorem or specific tax would be more effective, whether an indirect tax is regressive, and whether the PED for sugary products may override a small increase in the price of these products.
I hope this helps, honestly the best way to go about scoring highly on 25 markers is practice. I went from 12/13s to at least 17/18s just before my recent exams, so it's definitely a practice thing.
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