A-LevelEconomicsThe Price System and the MicroeconomyMay/June 2010Paper 1 Q121 Mark
What does not happen when price acts as a means to allocate resources?
APrice determines the supply of public goods.
BPrice operates in the markets for both goods and factors of production.
CPrice recognises consumers' ability to pay rather than consumers' needs.
DPrice signals to producers which goods are most profitable.
✓ Correct Answer
The correct answer is A. This question tests the candidate's understanding of the price system and the microeconomy within the Economicssyllabus. The examiner's mark scheme requires...
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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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