O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2023 · Q51 Mark

Public transport and cars are substitute goods. The price of public transport rises. What will happen to the demand for cars?

AIt will contract.

BIt will extend.

CIt will decrease.

DIt will increase.

✓ Correct answer

D: It will increase.

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2023 Paper 1 Variant 2, question 5.

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