O-LevelEconomicsThe allocation of resources2281/11 · May/June 2024 · Q61 Mark

What could cause the price of tea to increase?

Adecrease in the demand for tea

Bdecrease in the price of a substitute good

Cincrease in the price of a substitute good

Dincrease in the supply of tea

✓ Correct answer

C: increase in the price of a substitute good

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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 6.

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