A-LevelEconomicsThe Price System and the MicroeconomyMay/June 2014Paper 1 Q131 Mark
In a market for a good both demand and supply change at the same time. Which combination of changes would enable an economist to predict with confidence that more resources will be needed in its production but not the direction of the associated price change? [Table showing 'demand' and 'supply' changes for options A, B, C, D]
Ademand decrease, supply decrease
Bdemand decrease, supply increase
Cdemand increase, supply decrease
Ddemand increase, supply increase
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of the price system and the microeconomy 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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