When asked to 'explain' a concept in economics, what level of detail should you provide?

When asked to explain a concept in economics, you should provide a clear and detailed description that helps your audience understand the main idea. Start by defining the concept in simple terms and then describe how it works in real life or why it is important. For example, if you are explaining supply and demand, you could define supply as how much of a product is available and demand as how much people want to buy it. It’s also helpful to give an example, like how the price of apples might go up if there are fewer apples available at the market. This way, your explanation will be thorough enough for someone to grasp the concept without feeling overwhelmed.