A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2014Paper 1 Q51 Mark

The market price of a product rose from $8 to $10 and as a result the market demand fell from 20000 to 8000 a week. Consumer X's demand declined from 30 to 24 and consumer Y's demand fell from 100 to 60 a week. What can be concluded from this information?

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.

AConsumer X's demand for the product was more elastic than the market demand.

BConsumer X's percentage share of the market increased.

CProducer's total profit fell.

DProducer's total revenue rose.

✓ Correct Answer

The correct answer is B: Consumer X's percentage share of the market increased.

📋 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.

🔒

Unlock the Examiner's Analysis

Join thousands of Cambridge students already using Oracle Prep

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 2014 examination, Paper 1 Variant 2.

Practice on Oracle Prep

Oracle Prep provides AI-powered practice for all Cambridge O-Level and A-Level subjects. Our platform includes topic predictions with 87.7% accuracy, AI essay grading, and a comprehensive question bank spanning 25 years of past papers across 29 subjects.