A-LevelEconomicsThe Price System and the MicroeconomyMay/June 2015Paper 1 Q71 Mark
A survey into the market for good X found that it is an inferior good and a close substitute for good Y. Which values for the income elasticity of demand for good X and its cross elasticity of demand with respect to the price of good Y would support this? [Table 7.1]
A-1.2
-0.9
B-1.2
+0.9
C+1.2
-0.9
D+1.2
+0.9
✓ Correct Answer
The correct answer is B: -1.2 +0.9
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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