Susan Grant | Cambridge Igcse Economics Workbook Answers

“Insulin has inelastic demand because: (1) it is a life-saving necessity, so consumers cannot easily reduce usage; (2) there are few close substitutes; (3) for most diabetics, insulin costs are a small proportion of income, so price changes have little effect on quantity demanded.”

| Command Word | Meaning | Answer Structure | |--------------|---------|------------------| | State/Identify | Recall a fact or term | One word or short phrase | | Describe | Give a detailed account | 2–3 sentences | | Explain | Give reasons for something | Cause and effect (because… therefore…) | | Calculate | Work out a numerical answer | Show formula and steps | | Analyse | Break down into parts | Use economic terms, separate factors | | Discuss | Present arguments for and against | At least two points on each side | Cambridge Igcse Economics Workbook Answers Susan Grant

Look up “determinants of PED.” You find: necessities have inelastic demand; lack of substitutes; low proportion of income. Your answer mentioned necessity, but not substitutes or income proportion. “Insulin has inelastic demand because: (1) it is

The most successful IGCSE Economics students do not possess a secret answer booklet. They possess discipline: attempting every question, checking against legitimate sources (teacher, coursebook, past paper mark schemes), and revising errors until the concepts become second nature. Then check

Always attempt every question, even if you’re unsure. Write something. Then check. Pitfall 2: Copying Answers Without Understanding Why it’s bad: The IGCSE exam will present unfamiliar scenarios. Rote memorisation of workbook answers won’t help.