O-LevelEconomicsThe allocation of resources2281/11 · May/June 2019 · Q71 Mark

The table shows the demand schedule for a good at different prices. price $ quantity demanded 8 200 10 160 12 120 14 60 The current market price for the good is $10. Following a 20% increase in price, what will be the change in the quantity demanded?

A-60

B-40

C+120

D+200

✓ Correct answer

B: -40

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2019 Paper 1 Variant 1, question 7.

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