A-LevelEconomicsThe Price System and the MicroeconomyOct/Nov 2020Paper 1 Q81 Mark
Vanilla is an important ingredient in the production of ice cream. Between 2011 and 2018 the price of vanilla increased from about US$100 per kg to nearly US$600 per kg. The diagram shows the market demand for and supply of ice cream. The original equilibrium is X. Which point illustrates the effect of this price rise on the market for ice cream?
APoint A
BPoint B
CPoint C
DPoint D
✓ 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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