Answering 2-Mark Questions (DP IB Economics): Revision Note

Steve Vorster

Written by: Steve Vorster

Reviewed by: Lisa Eades

Updated on

How to answer IB Economics 2-mark questions

  • 2-mark questions test precision and accuracy, not how much you know

  • They appear across all three exam papers and are most closely linked to AO1 (knowledge and understanding), with occasional links to AO4 where technical accuracy is required

  • These are often described as “easy marks”, but they are also where many students lose marks unnecessarily

What examiners are looking for

  • For 2 marks, examiners expect either:

    • one accurate definition, or

    • two distinct, correct points, depending on the command term

  • Each correct point is worth one mark

  • No development, examples, diagrams, or evaluation are required unless explicitly stated

Common command terms

  • Define – give the precise meaning of an economic term

  • State / List / Identify – provide the required number of points without explanation

How to structure your answer

  • Write one clear sentence per mark

  • Use precise economic terminology

  • Keep answers short and focused

  • Stop writing once the marks are secured

Worked Example

Question

Define the term inflation. [2]

Sample response

Text defines inflation as a sustained increase in average price levels, highlighting "sustained increase" in yellow for emphasis.

Why this scores 2/2

✅ Uses correct economic terminology
✅ Includes both key elements: sustained and average price level
✅ Clear and concise, with no unnecessary explanation

Worked Example

Question

List two consequences of inflation. [2]

Sample response

Text reading "A reduction in the purchasing power of income" and "Uncertainty for firms when making investment decisions," each with a tick mark.

Why this scores 2/2

✅ Two clearly distinct consequences
✅ Each point is specific and valid
✅ No repetition or overlap

Common mistakes to avoid

  • These mistakes do not gain extra marks and may introduce errors.

    • Writing long explanations or mini-paragraphs

    • Giving vague definitions (e.g. “prices go up”)

    • Listing more points than required

    • Using examples instead of definitions

Examiner Tips and Tricks

If you are unsure, keep your answer short and precise. Writing more does not increase marks and often reduces clarity

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Steve Vorster

Author: Steve Vorster

Expertise: Economics & Business Subject Lead

Steve has taught A Level, GCSE, IGCSE Business and Economics - as well as IBDP Economics and Business Management. He is an IBDP Examiner and IGCSE textbook author. His students regularly achieve 90-100% in their final exams. Steve has been the Assistant Head of Sixth Form for a school in Devon, and Head of Economics at the world's largest International school in Singapore. He loves to create resources which speed up student learning and are easily accessible by all.

Lisa Eades

Reviewer: Lisa Eades

Expertise: Business Content Creator

Lisa has taught A Level, GCSE, BTEC and IBDP Business for over 20 years and is a senior Examiner for Edexcel. Lisa has been a successful Head of Department in Kent and has offered private Business tuition to students across the UK. Lisa loves to create imaginative and accessible resources which engage learners and build their passion for the subject.