A-LevelEconomicsThe price system and the microeconomy9708/31 · Oct/Nov 2017 · Q31 Mark

At major sporting events, unofficial markets occur where tickets originally sold by the event organiser are resold at prices higher than the original ticket price. What might be the conclusion of an economist considering these markets?

A Allocation of tickets by ballot would be preferable. B The market for the resold tickets is more equitable. C The new allocation of tickets better reflects consumers' utility. D This is a case of monopoly exploitation.[1]

Mark scheme

Marking points from the official mark scheme (Oct/Nov 2017). The mark or mark type is shown in brackets.

On Oracle Prep you can write or photograph your own answer and have it marked by AI against this mark scheme, with feedback on what you missed.

Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Structured question, 1 mark.
Source: A-Level Economics, Oct/Nov 2017 Paper 3 Variant 1, question 3.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content