Mark scheme Q4 Microeconomics (unit 2.5-2.6)
This exam style question was written for the new syllabus and can be completed as a homework or in-class written exercise. Section B questions now require candidates to explicitly apply their response to a real world situation. Responses might include the following: A definition of primary goods and price elasticity A suitable diagram, illustrating a good with low PED inelasticity, an example is included in the...