7.3.3 Essay Writing

• What is involved in analyzing the essay question to understand it effectively?

  Identifying the main topic
• What are points to cover in an essay on the impact of inflation on consumer spending?

  Define inflation and consumer spending
• Inflation affects purchasing power by reducing the amount consumers can afford to spend.


  True
• Organizing arguments into a coherent outline is a key step in planning the essay
• Inflation directly reduces the purchasing power of consumers.


  True
• Analyzing the question involves identifying the main topic and specific concepts
• What is the third step in planning an essay response on the impact of inflation on consumer spending?

  Plan the essay
• Match the essay section with its purpose:

  Introduction ↔️ State the main argument

  Main Body Paragraph 1 ↔️ Explain the relationship between inflation and consumer spending

  Main Body Paragraph 2 ↔️ Discuss the impact on different consumer groups

  Conclusion ↔️ Summarize key points
• Inflation reduces consumer purchasing power by increasing prices.
• Low-income earners are more affected by inflation than high-income earners.


  True
• High-income earners may be better able to absorb the effects of inflation because they have more disposable income
• Inflation directly impacts consumer purchasing power.

  True
• Inflation can lead to a decrease in real income for consumers.


  True
• High-income earners are less affected by inflation than low-income earners.


  True
• Analyzing the essay question involves identifying the main topic and specific concepts required.

  True
• Identifying key aspects is a step in planning an essay response.

  True
• Inflation causes consumers to shift spending from discretionary items to essential items.

  True
• High-income earners are better able to absorb inflation because they have more disposable income
• When inflation is high, consumers may cut back on discretionary purchases and focus on essential items
• Inflation refers to the sustained increase in the general price level over time
• What is the term for the sustained increase in the general price level?

  Inflation
• Match the consumer group with its impact of inflation:

  High-income earners ↔️ Maintain spending patterns

  Low-income earners ↔️ Vulnerable to rising prices
• High-income earners can maintain their spending patterns during inflation due to more disposable income.


  True
• Which consumer group was found by the National Bureau of Economic Research to maintain discretionary spending during high inflation?

  High-income earners
• What is the definition of inflation?

  Sustained increase in prices
• High-income earners are more vulnerable to the impact of inflation compared to low-income earners.

  False
• Low-income families often make trade-offs such as buying less nutritious food or forgoing medical care
• What is an example of analyzing an essay question on inflation's impact on consumer spending?

  Identify the main topic
• Organizing arguments into a coherent outline helps address all necessary aspects of an essay question.

  True
• How does inflation affect consumer spending?

  Reduces purchasing power
• Which consumer group can better absorb price increases during inflation?

  High-income earners
• The main topic of an essay is the central subject
• Steps involved in planning an essay response

  1️⃣ Create a structured outline

  2️⃣ Address key aspects

  3️⃣ Manage time effectively
• Planning your response ensures your essay addresses the key aspects of the question
• How does inflation affect high and low-income earners differently?

  Low-income earners are more vulnerable
• Steps to analyze an essay question

  1️⃣ Identify the main topic

  2️⃣ Identify key concepts

  3️⃣ Determine points to address
• What is the first step in planning an essay response on the impact of inflation on consumer spending?

  Analyze the question
• Consumer spending is directly affected by changes in inflation.


  True
• Organizing arguments into a clear outline structure is essential for planning the essay
• The introduction of an essay should summarize all main arguments.

  False