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Economics E.E. define terms?

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I am doing my extended essay in Economics. Do I have to define a lot of terms, like market, marginal cost, demand, supply e.t.c? Or are these too "simple" and I should just assume that everyone who reads the essay wil understand what I am talking about :)

THank!!!!!

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I am doing my extended essay in Economics. Do I have to define a lot of terms, like market, marginal cost, demand, supply e.t.c? Or are these too "simple" and I should just assume that everyone who reads the essay wil understand what I am talking about :)

THank!!!!!

Criterion G: use of language appropriate to the subject

It is extremely important that economic terminology is used and that definitions of key terms are provided. This will clearly enhance the academic tone of the essay.

Definitions should be precise. For example, a discussion of elasticity should refer to percentage or proportionate changes as opposed to “big” or “small” changes.

Source: http://production-app2.ibo.org/publication/19/part/4/chapter/10

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