A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2014Paper 1 Q91 Mark
The diagram shows the supply curve of coffee in an economy. The market equilibrium is initially at point X, but a change moves it to point Y. What might explain this?
Aan increase in wages paid by producers of coffee
Bswitch in consumer tastes from coffee to tea
Can increase in the price of tea
Dtax imposed on coffee producers
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The correct answer is C. This question tests the candidate's understanding of the price system and the microeconomy 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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