INTRODUCTION

(To start the essay part (a))

How to self-assess:
Introduction
 ECONOMICS ESSAY SELF-ASSESSMENT RUBRICS

According to data from the United Nations, global food prices rose at the fastest pace in October in more than two years. Many emerging economies face a price surge for staple food
products that are central to consumers' diets – for example, pork in China and onions in India. Economists identified three triggers for the rise in food prices - weather-related shocks,
higher oil prices and rising incomes.
Source: Adapted from The Business Times, 28 Nov 2019
(a) Explain how the abovementioned events caused food prices to surge. [10]
(b) Discuss the policies that governments could use to address rising food price. [15]

Guiding L3(8-10m) L2(5-7m) L1(1-4m)

Questions [15-20m] [8-14m] [1-7m]

Introduction o Did I define o Accurate definition o Some o No/wrong

accurately? of key economic attempt at definition of
o Did I show an concept definition of key
overview of the o Overview: key economic
question? Expectations of economic concept
given question concept
 Introduction

Ready to self-assess?
 ECONOMICS ESSAY SELF-ASSESSMENT RUBRICS

According to data from the United Nations, global food prices rose at the fastest pace in October in more than two years. Many emerging economies face a price surge for staple food
products that are central to consumers' diets – for example, pork in China and onions in India. Economists identified three triggers for the rise in food prices - weather-related shocks,
higher oil prices and rising incomes.
Source: Adapted from The Business Times, 28 Nov 2019
(a) Explain how the abovementioned events caused food prices to surge. [10]
(b) Discuss the policies that governments could use to address rising food price. [15]

Introduction:
Prices of food are determined by the demand for and supply of Define key
food. Demand is defined as effective demand which refers to the terms
willingness and ability to purchase a good at the different price accurately
levels during a specified time period. Supply is defined as the
willingness and ability to sell a good at the different price levels
during a specified time period. Overview:
The increase in demand for food as well as fall in supply of food, Expectations
coupled with food having a price inelastic demand and supply, of given
have caused food prices to surge.
question

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