O-LevelEconomicsThe allocation of resources2281/12 · May/June 2016 · Q71 Mark

The diagram shows the price of a product during year 1 and year 2. [Figure 7.1] Which changes in demand and supply are consistent with the price behaviour in year 2?

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Afalls by 5%, falls by 10%

Bfalls by 10%, falls by 5%

Cunchanged, falls by 10%

Drises by 15%, falls by 5%

✓ Correct answer

B: falls by 10%, falls by 5%

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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 2, question 7.

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