A-LevelEconomicsMarket Failure and Government InterventionFeb/Mar 2022Paper 1 Q151 Mark
What are the effects of a government imposing a maximum price below the equilibrium price? [Figure 15]
Ademand: falls, supply: falls
Bdemand: falls, supply: rises
Cdemand: rises, supply: falls
Ddemand: rises, supply: rises
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The correct answer is C. This question tests the candidate's understanding of market failure and government intervention 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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