DP Economics

Question 21M.3.HL.TZ0.d

Date	May 2021	Marks available	[Maximum mark: 2]	Reference code	21M.3.HL.TZ0.d
Level	HL	Paper	3	Time zone	TZ0
Command term	Define	Question number	d	Adapted from	N/A

[Maximum mark: 2]

21M.3.HL.TZ0.d

The demand for Good Z is income inelastic.

Define the term income inelastic demand.

[2]

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Examiners report

A surprising number of students made reference to a response to a change in price rather than income. The major weakness was a tendency to suggest that there would be zero change in the quantity demanded rather than a less than proportionate change.

Syllabus sections

First exams 2022

Last exams 2021

Last exams 2021 » Section 1: Microeconomics

First exams 2022 » Unit 2: Microeconomics » 2.5 Elasticity of demand » 2.5.1 Concept of elasticity

First exams 2022 » Unit 2: Microeconomics » 2.5 Elasticity of demand » 2.5.2 Price elasticity of demand (PED)

First exams 2022 » Unit 2: Microeconomics » 2.5 Elasticity of demand » 2.5.3 Income elasticity of demand (YED)

First exams 2022 » Unit 2: Microeconomics » 2.5 Elasticity of demand

First exams 2022 » Unit 2: Microeconomics

Last exams 2021 » Section 1: Microeconomics » 1.2 Elasticity » Income elasticity of demand (YED) » Income elasticity of demand and its determinants

Last exams 2021 » Section 1: Microeconomics » 1.2 Elasticity » Income elasticity of demand (YED)

Last exams 2021 » Section 1: Microeconomics » 1.2 Elasticity

Question 21M.3.HL.TZ0.d

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