Strategy 4. Provide Illustrations | Elaborating on Answers Effectively
(C-Level, Advanced Writing Skill)
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Strategy 4: Provide Illustrations
Providing illustrations can clarify difficult concepts and show that you understand them well. Illustrations also make your answers more engaging.
Providing illustrations is a common technique to elaborate on both written and oral responses to questions.
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Example of providing an illustration to elaborate on an answer
Example question
”According to the quantity theory of money, what causes inflation?”
Simple answer
According to the quantity theory of money, inflation is caused by an increase in the money supply relative to the supply of goods and services in an economy. Essentially, if the money supply increases faster than the rate of economic growth, then there will be too much money in the economy chasing too few goods, which will cause prices to rise.
Answer with elaboration
According to the quantity theory of money, inflation is caused by an increase in the money supply relative to the supply of goods and services in an economy. Essentially, if the money supply increases faster than the rate of economic growth, then there will be too much money in the economy chasing too few goods, which will cause prices to rise.
To illustrate, let’s say an economy produces only two goods: bread and milk. The total quantity of bread and milk produced is fixed at 100 units, and the total amount of money in the economy is $1,000. In this scenario, the price of bread is $5 per unit and the price of milk is $5 per unit, and each unit of money changes hands on average five times per year (i.e., the velocity of money is 5). Now suppose the central bank decides to increase the money supply by 20%, from $1,000 to $1,200. Assuming that the quantity of bread and milk produced remains the same, the quantity theory of money predicts that the price level will rise by 20%, from $5 per unit to $6 per unit. With more money in the economy chasing the same amount of bread and milk, the average price of each unit of bread and milk rises in order to clear the market.
Up Next: Strategy 5. Use Analogies or Metaphors
Continue the lesson to learn this technique you can use to elaborate on your answer.