A-LevelEconomicsElasticityMay/June 2013Paper 1 Q81 Mark
A product is an inferior good with no close substitutes. It is also a complement to goo Which product matches the above description? [Table with columns: product, price elasticity of demand, income elasticity of demand, cross elasticity of demand with respect to the price of X]
A-2 +2 +1
B-2 +2 -1
C-0.5 -2 +1
D-0.5 -2 -1
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of elasticity within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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