A-LevelEconomicsBasic Economic Ideas and Resource AllocationMay/June 2012Paper 1 Q131 Mark
The diagram shows the demand and supply curves for parking spaces in a hospital car park. [Figure 13.1] The managers decide to rely on the price mechanism to allocate parking spaces at the hospital. What is required for this to work?
AAlternative means of transport must be provided for those unable to afford price OP.
Bsurvey will be needed to find out the amount users are willing to pay.
CThe capacity of the car park will need to be expanded.
DThe price charged for parking spaces must be OP.
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The correct answer is D. This question tests the candidate's understanding of basic economic ideas and resource allocation within the Economicssyllabus. The examiner's mark scheme requires...
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