A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2011Paper 1 Q131 Mark
When is a rise in the price of a product likely to cause more resources to be allocated to its production?
Aif demand increases when the supply curve is perfectly inelastic
Bif the demand curve shifts to the right when the supply curve is inelastic
Cif supply increases when the demand curve is perfectly inelastic
Dif the supply curve shifts to the left when the demand curve is elastic
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of the price system and the microeconomy 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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