A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2016Paper 1 Q121 Mark
When will it not be possible to use price as a rationing mechanism?
Awhen a good has a number of close substitutes
Bwhen a good is an inferior good
Cwhen the demand for a good is infinitely inelastic
Dwhen the quantity of a good is in fixed supply
✓ Correct Answer
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...
📋 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...
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