Economics 9708 · AS & A Level · Income elasticity of demand

Income elasticity of demand — practice question

Within a free market, a good is in excess supply. Which alteration would bring the market into equilibrium?

  • Aa decrease in demand
  • Ba fall in price
  • Ca government minimum price
  • Dan increase in supply

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI