To provide a focused analysis, we'll reconstruct the question based on the official HKCEE Economics syllabus, which was very likely the topic that year: .
A very specific request!
A. (1) only B. (1) and (2) only C. (1) and (3) only D. (2) and (3) only hkcee 2010 econ paper 2 q2
Time spent doing an activity is a scarce resource. Always evaluate what that time could have earned elsewhere.
This model answer offers strong phrases and core points for exam success, mirroring the concise style of HKCEE marking schemes. To provide a focused analysis, we'll reconstruct the
For students of the Hong Kong Certificate of Education Examination (HKCEE) Economics syllabus, past paper practice is non-negotiable. Among the most instructive yet challenging questions in the final years of the HKCEE (which ran until 2011) is .
is not just a test of memory; it is a test of economic reasoning. It forces students to move beyond reciting definitions and into the realm of applied welfare economics. A student who can solve Q2 confidently can tackle any first-year university microeconomics problem on price controls and taxation. (1) only B
| Question Part | Model Answer | Marking Notes & Exam Tips | | :--- | :--- | :--- | | | A normal good is a good whose demand increases when consumers' income rises. An inferior good is a good whose demand decreases when consumers' income rises. | Award 1 mark for each correct definition. Use precise language. | | Q2(b) | Income elasticity of demand (YED) measures the responsiveness of quantity demanded to a change in income.
option (the dividends from shares) affects the net gain or "worth" of the choice, but it does not alter the value of what you gave up to make that choice. Student Performance Note: