O-LevelEconomicsThe allocation of resources2281/12 · May/June 2017 · Q71 Mark

In 2015 there was a significant fall in the world price of petrol (gasoline). What would not have been a cause of the price fall?

Athe continuing global recovery from the world economic recession

Bthe increasing exploitation of US oil reserves

Cthe re-entry of Iranian producers to the world oil market

Dthe shorter journeys from using the new Suez Canal

✓ Correct answer

A: the continuing global recovery from the world economic recession

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2017 Paper 1 Variant 2, question 7.

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