A-LevelEconomicsThe Market System and the National EconomyFeb/Mar 2017Paper 1 Q121 Mark
For price to act as a rationing mechanism for a final product, the effect of a rising price must be to
Aattract new firms into the market.
Bgenerate additional profits for producers.
Creduce the quantity demanded by some individuals.
Dsignal the need for redeployment of labour.
✓ Correct Answer
The correct answer is C. 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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