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A-LevelEconomicsThe price system and the microeconomy9708/12 · May/June 2018 · Q121 Mark

A free market is in disequilibrium with a shortage of a product. As the market moves towards equilibrium, what will happen to the price, the quantity demanded and the quantity supplied?

Adecrease, decrease, increase
Bdecrease, increase, decrease
Cincrease, decrease, increase
Dincrease, increase, decrease

✓ Correct answer

C: increase, decrease, increase

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About this question

Topic
The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source
A-Level Economics, May/June 2018 Paper 1 Variant 2, question 12.

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