I&S Department

Individuals and societies summative assessment

MYP 5

Student Name:________________________________________________

Criteria Criterion A: Knowing Criterion C: Criterion D: Applying

and understanding Communicating mathematics in Real
i,ii i,ii,iii Life contexts
i,ii,iii,iv
Achievement Level
Teacher 1
Achievement Level
Teacher 2
Over all Achievement Level
(Out of 8)
Points earned (out of 100)

Feedback

Assessment Overview
 I&S Department
Individuals and societies summative assessment
MYP 5

How do we decide what to produce?

Unit Title
Personnel and cultural expression
Global Context
Systems
Key Concept
Resources, choices and perspective
Related Concepts
Terrestrial resources are finite, but our knowledge to this fact
Statement of Inquiry enables us to develop systems to cope with scarcity.
28/11/2024
Date

Command Terms:
Analyze Explore
Demonstrate Formulate
Describe Identify
Discuss List
Evaluate Reflect
Exemplify Summarize
Explain Synthesize

Criterion A: Knowing and Understanding

Maximum: 8

Achievement level Level descriptor Task clarification

0 The student does not reach a standard I didn’t understand the basic knowledge in the
described by any of the descriptors below microeconomics unit
1–2 The student is able to: i. I rarely use relevant word and terminologies as
scarcity and choice with minimal description or
i. uses limited relevant terminology examples with little context explanation
ii. demonstrates basic knowledge and ii I rarely showcase my understanding to economics
understanding of content and concepts with using words as opportunity costs, and economic
minimal descriptions and/or examples. models, normative and positive statements with
little context explanation
3–4 The student is able to: i. I often use accurate relevant economics
terminologies as production possibilities, Ceteris
i. uses some terminology accurately and Paribus with fair context explanation
appropriately ii I often showcase and demonstrate basic
ii. demonstrates adequate knowledge and understanding to economics using words as
understanding of content and concepts through demand, supply, GDP, Marginals with fair context
satisfactory descriptions, explanations and explanation
examples.

5–6 The student is able to: i. I use the range of accurate, specific and relevant
terminology that I have learned in the class and
i. uses a range of terminology accurately and from the economics book with a very good context
appropriately explanation as demand and supply is the reflection
 I&S Department
Individuals and societies summative assessment
MYP 5

ii. demonstrates substantial knowledge and of the marginal cost and marginal benefit
understanding of content and concepts through ii. I showcase my substantial understanding to
accurate descriptions, explanations and knowledge of economics content and concepts
examples. through accurate descriptions, with a very good
context explanation as demonstrating the increasing
mc and mb on a graph with basic mathematical
skills and analysis
7–8 The student is able to: i. I always use all economic terminologies spectrum
in an accurate, specific and relevant terminology
i. consistently uses a wide range of terminology that I have learned in the class and from all the
effectively economics book that we have with an excellent and
ii. demonstrates detailed knowledge and superior
understanding of content and concepts through context explanation as Demand and supply linear
thorough, accurate descriptions, explanations function and market equilibrium with advanced
and examples. mathematical skills and analysis
ii. I can meticulously showcase my economics skills
by demonstrating all possible terminologies along
with substantial understanding to knowledge of
content and concepts through perfect descriptions,
with a sound and just context explanation as
developing my own demand and supply linear
function and changing all parameter with a scenario
that I created when fully understand economics

Criterion C: Communicating
Maximum: 8

Achievement level Level descriptor Task clarification

0 The student does not reach a standard described by I didn’t understand the basic knowledge in the
any of the descriptors below. microeconomics unit
1–2 The student: i. I can communicate the economic knowledge and
views in a limited way, using a style that is limited in
i. communicates information and ideas in a its appropriateness to the audience and purpose
limited way, using a style that is limited in its ii. In a limited way I can structure my information,
appropriateness to the audience and purpose views, ideas and display my graphs.
ii. structures information and ideas according to iii. I rarely document my data analysis and take
the specified format in a limited way notes to reflect it in my conclusions and deliver
iii. documents sources of information in a limited limited citations and documentations.
way.

3–4 The student: i. I can communicate the economic knowledge and

views in a fair way, using a style that is accepted to
i. communicates information and ideas the audience and purpose
satisfactorily by using a style that is somewhat ii. I can fairly structure my information, views, ideas
appropriate to the audience and purpose and display my graphs.
ii. structures information and ideas in a way that iii. I document my data analysis and take notes to
is somewhat appropriate to the specified format reflect it in my conclusions and deliver citations and
iii. sometimes documents sources of information documentations.
using a recognized convention.
5–6 The student: i. I can communicate the economic knowledge and
views in a clear way, using a style that is good to the
i. communicates information and ideas accurately audience and purpose
by using a style that is mostly appropriate to the ii. I can structure my information, views, ideas and
audience and purpose display my graphs in a clear way almost to all of the
 I&S Department
Individuals and societies summative assessment
MYP 5

ii. structures information and ideas in a way that audience

is mostly appropriate to the specified format iii. I fairly document my data analysis and take notes
iii. often documents sources of information using regularly to reflect it in my conclusions and deliver
a recognized convention. citations and documentations.

7–8 The student: i. I can communicate the economic knowledge and

views in a professional way, using a style that is
i. communicates information and ideas effectively appealing to the audience and for a clear purpose.
and accurately by using a style that is completely ii. I can professionally structure my information,
appropriate to the audience and purpose views, ideas and display my graphs to all audience
ii. structures information and ideas in a way that iii. I explicitly and professionally document all my
is completely appropriate to the specified format data analysis and consistently take notes to reflect it
iii. consistently documents sources of in my conclusions and deliver citations and
information using a recognized convention. documentations in a clear and structured way

Criterion D: Thinking Critically

Maximum: 8

Achievement level Level descriptor Task clarification

0 The student does not reach a standard described by I didn’t understand the basic knowledge or apply
any of the descriptors below. any critical thinking skill like describing, analyzing
summarizing, calculating, and synthesizing in the
microeconomics unit.
1–2 The student: i. I rarely analyze concepts, issues, models, visual
i. analyses concepts, issues, models, visual representation and theories and can deliver it to a
representation and theories to a limited extent limited extent as discussing which market we are
ii. summarizes information to a limited extent to referring to in a graph
make arguments ii I make limited arguments when I synthesize and
iii. describes a limited number of sources/data in compile a paragraph/graph or an economic model
terms of origin and purpose and recognizes few data and while examining different values
values and limitation iii. I analyze few information, provide limited
iv. identifies different perspectives and minimal possible conclusions, and evaluations
implications. iv. I identify or can point limited views in economics
as listing missing or not all the implications on a
specific market

3–4 The student: i. I analyses concepts, issues, models, visual

i. analyses concepts, issues, models, visual representation and theories and can deliver it as
representation and theories discussing the market we are referring to, in
ii. summarizes information to make arguments addition referring to the Y-axis and X-axis labels.
iii. analyses and/or evaluates sources/data in ii I make fair arguments when I synthesize and
terms of origin and purpose, recognizing some compile a paragraph/graph or an economic model
values and limitations data and while examining different values
iv. interprets different perspectives and some of iii. I analyze fair number of information sources,
their implications. provide possible conclusions, and evaluations
iv. I interpret the views in economics as listing some
good implications on a specific market
5–6 The student: i. I am very good at analyzing concepts, issues,
i. discusses concepts, issues, models, visual models, visual representation and theories and can
representation and theories deliver it professionally as discussing the market we
ii. synthesizes information to make valid are referring to, refer to the Y-axis and X-axis labels,
arguments in addition to sketching the demand and supply
iii. effectively analyses and evaluates a range of curve
sources/data in terms of origin and purpose, ii I make very good arguments when I synthesize
 I&S Department
Individuals and societies summative assessment
MYP 5

recognizing values and limitations and compile a paragraph/graph or an economic

iv. interprets different perspectives and their model data and while examining different values
implications. and make good mathematical analysis
iii. I analyze all information sources, provide the
conclusions, and evaluations in structured way
iv. I interpret views professionally in economics as
listing all implications on a specific market
7–8 The student: i. I am excellent at analyze and evaluating concepts,
i. completes a detailed discussion of concepts, issues, models, visual representation and theories
issues, models, visual representation and and can deliver it professionally, meticulously and
theories fully detailed as discussing the market we are
ii. synthesizes information to make valid, well- referring to, refer to the Y-axis and X-axis labels,
supported arguments sketching the demand and supply curve, in addition
iii. effectively analyses and evaluates a wide to finding the neat market equilibrium, P and Q
range of sources/data in terms of origin and intercepts, slope of change and parameters a, b, c
purpose, recognizing values and limitations and d. In addition to creating your own scenario and
iv. thoroughly interprets a range of different graph while changing in all parameters.
perspectives and their implications ii I Excellent arguments when I synthesize and
compile a paragraph/graph or an economic model
data and while examining different values
and make accurate mathematical analysis.
iii. I accurately analyze all information sources,
provide the conclusions, and evaluations in a
structured, clear and logical way
iv. I master views’ interpretation in economics as
listing all implications on a specific market with
clear and excellent reflection on all aspects,
parameters being affected.
 I&S Department
Individuals and societies summative assessment
MYP 5

Project overview

(Points 1 to 6
In this project, students will apply their understanding to economics by
choosing a specific market of a good of their choice and creating their own
demand and supply linear function. Students are then required to create their
own scenario of a shock to the market that will increase, decrease the demand
and supply or both according to the scenario. After delivering the full scenario
of that market, students are finally required to demonstrate their analytical
and mathematical skills by changing at least 1 parameter of each demand and
supply curve. The students in groups of only four students are expected to
deliver the following points clarified in the below list of objectives and details.

Project objectives and details

1. Choose your own market good or service and specify the circumstances
based on which your good is being bought and sold.

2. Create your own demand and supply function prior to your projected
scenario

3. Describe a scenario in a detailed insight created from your own

imagination that will impact the market of your good or service while
explaining step by step the possible implications.

4. Synthesize and evaluate the impact of your recently created scenario on

your good or service to justify the change in both Parameter “A” and “C”
and explain the shifts of your equation and also the change in one or both
Parameter “B” or “D” and explain the curve responsiveness
(flatter/steeper)

5. Calculate for the new demand and supply linear function, old and new
market equilibriums, Q-intercepts and P-intercepts, label your graphs,
clarify the leftward and rightward shifts while clarifying if consumers or
suppliers became more or less responsive to that market.
 I&S Department
Individuals and societies summative assessment
MYP 5

6. Demonstrate with practical application your understanding to the linear

demand and supply function by creating your own chart to include both
your scenario and graph that explicitly include market equilibrium before
and after your scenario. Please note that you are required to showcase
your impact and analytical skills having both old and new market
equilibrium on the same graph that you will hang in your class.

Use the following temple to help you create your own analyses:
(Do not use the same template)

Scenario: Market XYZ. (5 Marks)

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 I&S Department
Individuals and societies summative assessment
MYP 5

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Old demand linear function Old supply linear function

Qd = 900 - 10(p) Qs = -100 + 20(p)

* Value of the Q-intercept = * Value of the Q-intercept =

* Value of the P-intercept = * Value of the P-intercept =

Old Market Equilibrium Calculations

* Qd=Qs
* =
*P=
* Equilibrium price: $
* Equilibrium Quantity: which is also equal to

* Equilibrium Quantity: units

New Demand linear function New Supply linear function

Qd = - (p) Qs = + (p)

* Value of the Q-intercept = * Value of the Q-intercept =

 I&S Department
Individuals and societies summative assessment
MYP 5

* Value of the P-intercept = * Value of the P-intercept =

New Market Equilibrium Calculations

* Qd=Qs
* =
*P=
* Equilibrium price: $
* Equilibrium Quantity: which is also equal to

* Equilibrium Quantity: units

 I&S Department
Individuals and societies summative assessment
MYP 5

7- Summarize the below passage in a research while linking it to our unit

statement of inquiry “Terrestrial resources are finite, but our knowledge
to this fact enables us to develop systems to cope with scarcity”, after
synthesize your ideas and views, you are required to exemplify the
different systems on the economic/political spectrum we can find in our
world and the systems in between (examples as USA , France, USSR,
North Korea, China, Singapore, Vietnam, Egypt, Russia). In your reflection,
you should highlight your answers for questions like What is an
economy? What economic systems exist to allocate resources? How do
markets work? Why and how do governments intervene in the markets?
What is a recession and why is it bad? To what extent do market
(demand, supply and elasticities) studies improve our lives? What is the
role of the government in shaping our economy (Extra Bonus question)?.
The passage:
“Capitalism and communism are two contrasting economic systems that
approach the challenge of scarcity in fundamentally different ways.
Capitalism is characterized by private ownership of resources and
production, with decisions driven by market forces such as supply and
demand. In this system, individuals and businesses compete to allocate
resources efficiently, often leading to innovation and economic growth.
On the other hand, communism advocates for collective ownership of
resources, where the government or community centrally plans
production and distribution to ensure equality. While capitalism
emphasizes personal freedom and profit incentives, it can lead to wealth
inequality and overexploitation of finite resources. Conversely,
 I&S Department
Individuals and societies summative assessment
MYP 5

communism aims to eliminate class disparities but can suffer from

inefficiencies and lack of incentives for innovation. Both systems strive to
address scarcity but through differing ideologies—capitalism trusts
markets, while communism relies on centralized control. Understanding
these models highlights how societies attempt to balance resource
limitations with human needs”