A-LevelEconomicsThe Market System and the National EconomyFeb/Mar 2017Paper 1 Q101 Mark
The diagram shows the market for new houses. [Diagram] What would cause the change in the market equilibrium position from X to Y?
Afall in income tax and a rise in building costs
Bfall in interest rates and increased efficiency in house-building
Cfall in population and a rise in the price of building land
Drise in building subsidies and a fall in incomes
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of the market system and the national economy 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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