O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2016 · Q41 Mark

The market for a good was in equilibrium. A change occurred which resulted in a new equilibrium with a higher price for the good and a lower quantity traded. What change would have caused this?

Athe demand curve moved to the left

Bthe demand curve moved to the right

Cthe supply curve moved to the left

Dthe supply curve moved to the right

✓ Correct answer

C: the supply curve moved to the left

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2016 Paper 1 Variant 2, question 4.

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