A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2014Paper 1 Q101 Mark
In the diagram OS₁ and OS₂ are two straight-line supply curves. As price increases, the elasticity of supply
Adecreases along both OS₁ and OS₂.
Bincreases less rapidly along OS₁ than along OS₂.
Cincreases more rapidly along OS₁ than along OS₂.
Dis constant along OS₁ and along OS₂.
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The correct answer is D. 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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