A-LevelEconomicsMicroeconomics: Price SystemMay/June 2023Paper 1 Q131 Mark
What would cause a market disequilibrium?
Awhen a decrease in the demand for a product leads to a price fall that results in some producers leaving the market
Bwhen a decrease in the demand for a product leads to some producers being unable to sell products at the current price
Cwhen a decrease in the supply of a product leads to a price rise that results in the market for the product clearing
Dwhen a decrease in the supply of a product leads to a price rise that makes it too expensive for some poorer households
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of microeconomics: price system within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
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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