Mark scheme Q15 microeconomics (unit 2.1-2.3)
This exam style question 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: Responses should begin with an explanation that public transport is a substitute for new cars, while petrol and new cars are complementary goods. This means that an increase in the price of cars would,...