O-LevelEconomicsThe allocation of resources2281/11 · May/June 2024 · Q41 Mark

What is not held constant when drawing a demand curve for a good or service?

Aconsumers' incomes

Btastes and preferences

Cthe price of substitutes

Dthe price of the good or service

✓ Correct answer

D: the price of the good or service

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2024 Paper 1 Variant 1, question 4.

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