DP Economics
Question 23M.3.HL.TZ0.iv
| Date | May 2023 | Marks available | [Maximum mark: 4] | Reference code | 23M.3.HL.TZ0.iv |
| Level | HL | Paper | 3 | Time zone | TZ0 |
| Command term | Explain | Question number | iv | Adapted from | N/A |
iv.
[Maximum mark: 4]
23M.3.HL.TZ0.iv
With reference to Figure 1, explain why the price elasticity of demand for capsicums would change if the price continued to increase beyond NZ$24 per kg.
[4]
Markscheme
A response that does not make some reference to the diagram (eg linear demand curve; capsicums; a calculation) may be awarded a maximum of [3].
Examiners report
Stronger responses explained clearly why PED changes along a linear demand curve, often using a mathematical approach. However, a large number of responses simply explained and applied the law of demand.
