A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2013Paper 1 Q71 Mark

How is the market supply of a product in a competitive market obtained?

Q: What topic does this question test?

This question tests The Price System and the Microeconomy in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Aby aggregating the supply of all firms producing the product

Bby averaging the supply of all firms producing the product

Cby calculating the supply of the typical firm producing the product

Dby estimating the supply of the largest firm producing the product

✓ Correct Answer

The correct answer is A: by aggregating the supply of all firms producing the product

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Economics Question

Topic

This multiple-choice question tests The Price System and the Microeconomy in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Economics Oct/Nov 2013 examination, Paper 1 Variant 2.

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