A-LevelEconomicsThe Price System and the MicroeconomyFeb/Mar 2024Paper 1 Q101 Mark
Butter is a normal good. It is in joint demand with bread and in joint supply with buttermilk. The demand for butter increases because of a rise in consumer incomes. What are the effects of this increase on the prices of bread and buttermilk?
Aprice of bread decreases, price of buttermilk decreases
Bprice of bread decreases, price of buttermilk increases
Cprice of bread increases, price of buttermilk decreases
Dprice of bread increases, price of buttermilk increases
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of the price system and the microeconomy within the Economicssyllabus. The examiner's mark scheme requires...
📋 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...
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