CSEC Economics · May/June 2016 · Paper 2 · Question 2(c)(ii)
Explain the impact on the demand curve when the income of the population rises.
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Practise this questionOther parts of this question
- 2(a)Define the term 'market failure'.[2 marks]
- 2(b)List THREE causes of market failure.[3 marks]
- 2(c)(i)Explain the impact on the demand curve when the price of a good falls.[3 marks]
- 2(d)(i)Calculate the cross-price elasticity of demand using the provided information.[3 marks]
- 2(d)(ii)Determine the classification of Good A in relation to Good B based on the result obtained in (d)(i).[1 mark]
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