A-LevelEconomicsDemand and SupplyOct/Nov 2017Paper 1 Q121 Mark
What is meant by consumer surplus?
Athe amount of money that remains after consumers have made their purchases
Bthe difference between how much a consumer is willing to pay for a good and the amount paid
Cthe difference between the amount of a good that's bought by a consumer and the amount consumed
Dthe difference between the price paid for a good and the cost of producing it
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of demand and supply 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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