A-LevelEconomicsGovernment Microeconomic InterventionOct/Nov 2024Paper 1 Q121 Mark
In the diagram, S₁ and S2 are the supply curves for an agricultural product in years 1 and 2 respectively. D is the demand curve in years 1 and 2. In year 1, the government purchased an amount necessary to ensure that the price was OP. The price is held at OP in year 2. How much more must the government buy in year 2 than it bought in year 1? [Figure 12.1]
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The correct answer is D. This question tests the candidate's understanding of government microeconomic intervention within the Economicssyllabus. The examiner's mark scheme requires...
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