O-LevelEconomicsThe allocation of resources2281/12 · May/June 2014 · Q71 Mark

In 2011 the US Government declared that the country must increase the manufacture of fuel from crops such as corn that have previously only been used for food. What is likely to happen in the market for corn?

Amovement along the demand curve for corn

Bmovement along the supply curve for corn

Cshift to the left in the demand curve for corn

Dshift to the left in the supply curve for corn

✓ Correct answer

B: movement along the supply curve for corn

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2014 Paper 1 Variant 2, question 7.

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