O-LevelEconomicsThe allocation of resources2281/13 · Oct/Nov 2023 · Q91 Mark

In a market there is a surplus of a good. Which change would cause the market to come to an equilibrium?

Adecrease in demand

Bfall in price

Crise in price

Dan increase in supply

✓ Correct answer

B: fall in price

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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 3, question 9.

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