O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2024 · Q71 Mark

Which changes would move the equilibrium in the diagram from point X to point Z?

This question uses a diagram from the original paper, which isn't shown here. Open the full paper from the past papers archive to see it.

Adecrease in demand with a decrease in supply

Bdecrease in demand with an increase in supply

Can increase in demand with a decrease in supply

Dan increase in demand with an increase in supply

✓ Correct answer

C: an increase in demand with a decrease in supply

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2024 Paper 1 Variant 2, question 7.

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