A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2016Paper 1 Q101 Mark

What would increase the price elasticity of supply of a firm's products?

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.

Adecrease in the period of time that stocks can be kept

Bdecrease in the time that it takes to produce the products

Can increase in the cost of capital goods employed by the firm

Dan increase in the level of employment in the area

✓ Correct Answer

The correct answer is B: decrease in the time that it takes to produce the products

📋 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 2016 examination, Paper 1 Variant 2.

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