A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2024 · Q61 Mark

What is the definition of effective demand?

Ademand that is speculative

Bdemand that is supported by the ability to pay

Cthe relationship between price and quantity demanded

Dthe total amount demanded by consumers

✓ Correct answer

B: demand that is supported by the ability to pay

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Topic: The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source: A-Level Economics, Feb/Mar 2024 Paper 1 Variant 2, question 6.

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