O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2020 · Q61 Mark

The diagram shows the global market for copper with an equilibrium point of X. [Figure 6.1] Which point represents the new equilibrium after the copper producers' costs increase and there is rapid global economic growth?

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✓ Correct answer

A: A

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2020 Paper 1 Variant 2, question 6.

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