A-LevelEconomicsDemand and SupplyOct/Nov 2022Paper 1 Q141 Mark
The table shows Lee's and Yim's price elasticity of demand for restaurant meals and cinema tickets. There is a rise in the price of both products. What can definitely be concluded after these price changes?
ARestaurant owners will receive more income.
BLee will spend more money on both products.
CYim will spend more money on both products.
DCinema owners will receive less income.
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of demand and supply within the Economicssyllabus. The examiner's mark scheme requires...
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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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