O-LevelEconomicsThe allocation of resources2281/12 · May/June 2023 · Q91 Mark

The price of a good increases. What could cause this?

AThe cost of raw materials falls.

BThe incomes of consumers rise.

CThe price of a complement rises.

DThe price of a substitute falls.

✓ Correct answer

B: The incomes of consumers rise.

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2023 Paper 1 Variant 2, question 9.

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