A-LevelEconomicsMicroeconomics: Price SystemMay/June 2023Paper 1 Q91 Mark
A change in the price of a good causes an increase in the quantity of the good demanded. What would be the nature of the good and the direction of price change for this to be certain to happen? [Table 9.1]
Anature of good: inferior, price change: fall
Bnature of good: inferior, price change: rise
Cnature of good: normal, price change: fall
Dnature of good: normal, price change: rise
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The correct answer is C. This question tests the candidate's understanding of microeconomics: price system within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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