A-LevelEconomicsThe Market System and the National EconomyOct/Nov 2023Paper 1 Q121 Mark

The equation for the quantity demanded, QD, for a product is QD = 400-20P where P = price in $. The quantity supplied, QS, is given by QS = 100 + 40P. Which change will occur if the price rises from $5 to $6?

Q: What topic does this question test?

This question tests The Market System and the National Economy in A-Level Economics (syllabus code 9708). It is worth 1 mark.

AThe market will move from equilibrium to shortage.

BThe market will move from equilibrium to surplus.

CThe market will move from shortage to surplus.

DThe market will move from surplus to shortage.

✓ Correct Answer

The correct answer is B: The market will move from equilibrium to surplus.

📋 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...

🎯 Mark Scheme Breakdown

Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.

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About This A-Level Economics Question

Topic

This multiple-choice question tests The Market System and the National Economy in A-Level Economics (syllabus code 9708). It is worth 1 mark.

Source

This question appeared in the Cambridge A-Level Economics Oct/Nov 2023 examination, Paper 1 Variant 2.

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