A-LevelEconomicsThe price system and the microeconomy9708/31 · May/June 2019 · Q51 Mark

The table shows the substitution effect and income effect for a Giffen good and an inferior good as the price of the good changes. Which combination is correct? type of good price change demand change from substitution effect demand change from income effect A Giffen fall positive negative B Giffen rise positive positive C inferior fall negative negative D inferior rise negative negative

Mark scheme

Marking points from the official mark scheme (May/June 2019). The mark or mark type is shown in brackets.

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, May/June 2019 Paper 3 Variant 1, question 5.

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