A-LevelEconomicsMarket Equilibrium & ShiftsOct/Nov 2015Paper 1 Q111 Mark
In a particular year, 12000 units of a good are sold at $1 per unit. In a later year, 14000 units are sold at $1.20 per unit. If consumer tastes have remained constant, what could account for the change between the two years?
Adecrease in the price of raw materials used by producers
Ban increase in the price of a substitute good
Can increase in the rate of tax imposed on producers
Dthe formation of a monopoly in the production of the good
✓ Correct Answer
The correct answer is B: an increase in the price of a substitute good
📋 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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