A-LevelEconomicsDemand and SupplyFeb/Mar 2025Paper 1 Q41 Mark
The price of a good rises by 5% and the quantity of it demanded rises by 3%. At the same time, the incomes of consumers of the good rise by 4%. The law of demand appears not to be working in this case. What is the most likely explanation?
AOther things did not remain equal.
BThe demand for the good was price inelastic.
CThe real price of the good fell.
DThe time period was the very short run.
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of demand and supply 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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