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Question 19N.1.SL.TZ0.a

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Date November 2019 Marks available [Maximum mark: 10] Reference code 19N.1.SL.TZ0.a
Level SL Paper 1 Time zone TZ0
Command term Explain Question number a Adapted from N/A
a.
[Maximum mark: 10]
19N.1.SL.TZ0.a

Explain two reasons why the demand for manufactured goods might be price elastic.

[10]

Markscheme

Marks should be allocated according to the paper 1 markbands for May 2013 forward, part A.

Answers may include:

  • definitions of PED, price elastic, demand
  • diagram to show a relatively elastic demand curve, elastic section on a demand curve
  • explanation of two determinants of the elastic demand of manufactured goods, including: the number and closeness of substitutes, the degree of luxury/necessity, time and the proportion of income spent on the good
  • examples of manufactured goods with a relatively price elastic demand.

NB Candidates who only explain one reason should not be awarded marks beyond level 2.

Syllabus sections