O-LevelEconomicsThe allocation of resources2281/11 · May/June 2016 · Q71 Mark

The diagram shows the market for rice. [Figure 7.1] What would have caused the equilibrium price to rise from OP₁ to OP2?

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Agovernment subsidy to rice farmers

Bsuccessful advertising campaign for rice

Cimproved rice farming methods

Dpoor weather conditions

✓ Correct answer

D: poor weather conditions

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2016 Paper 1 Variant 1, question 7.

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