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A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2022 · Q71 Mark

What can be concluded about the roles of demand and supply in a free market?

AThey allocate resources to the greatest needs.
BThey ensure that goods and services are distributed equally.
CThey are both significant in setting the market price.
DThey ensure that everyone can benefit from the good or service provided.

✓ Correct answer

C: They are both significant in setting the market price.

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About this question

Topic
The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source
A-Level Economics, May/June 2022 Paper 1 Variant 2, question 7.

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