A-LevelEconomicsConsumer TheoryMay/June 2018Paper 3 Q51 Mark
The diagram shows a consumer's initial budget line is GH and a set of indifference curves IC₁, IC2 and IC3 for goods R and S. The original equilibrium for the consumer is point X. The inflation rate is rising faster than money incomes. What will be the most likely new equilibrium for the consumer if income is spent? [Figure 5.1]
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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