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Edexcel A-Level Economics AS 1.3.2 3h Interpretation of Numerical Values of Income Elasticity of Continued Demand Questions

Practise interpreting income elasticity values from tables and diagrams to classify goods and predict demand shifts after income changes.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • calculate the percentage demand change by multiplying YED by the percentage income change
  • classify normal or inferior and income-elastic or inelastic goods from a YED value
  • draw the demand shift and new equilibrium after an income change for a stated YED

Edexcel A-Level Economics AS 1.3.2 3h Interpretation of Numerical Values of Income Elasticity of Continued Demand Questions question 1

[Maximum number: 1]

The table shows the estimated income elasticity of demand for four items.

Table for Question Edexcel A-Level Economics AS 1.3.2 3h Interpretation of Numerical Values of Income Elasticity of Continued Demand Questions question 1 — Edexcel A-Level Economics AS

Which one of the following can be deduced from the table?

A

Caribbean holidays are an inferior good

B

Demand for healthcare is income elastic

C

Electricity is a normal good

D

Demand for bus travel is price inelastic

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