How did everyone find the economics unit 1 exam?
Very easy but I don't like being optimistic. I feel the average student may have come unstuck in a few questions such as the diagram for determining market price being simply a supply and demand, also the 6 markers have tendencies to catch out those who cant interpret a question but as a whole it was nothing I didn't expect. Hoping for an A since the boundaries suggest 44/60 and above is an A which I feel I most definitely achieved.
Did you guys write that the elasticity was 0.2? If yes did you say whether its inferior good or normal good?
a weak posative correlation of income elasticity suggesting a normal good