O-LevelEconomicsThe allocation of resources2281/12 · May/June 2021 · Q71 Mark

The diagram shows the market for information technology (IT) graduates. The original equilibrium was X. Later, more IT students graduated from university and greater use of artificial intelligence (AI) increased the demand for IT staff. What is the new equilibrium? [Figure 7]

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✓ Correct answer

C: C

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2021 Paper 1 Variant 2, question 7.

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