O-LevelEconomicsThe allocation of resources2281/12 · May/June 2024 · Q61 Mark

Supermarkets sell petrol (gas) outside their stores. They reduce the price of petrol below other suppliers to attract more customers to buy goods in the store when they buy more petrol. If this were successful, how might it be shown on demand and supply diagrams?

Ashift of the demand curve to the left

Bshift of the demand curve to the right

Cshift of the supply curve to the left

Dshift of the supply curve to the right

✓ Correct answer

D: shift of the supply curve to the right

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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 2, question 6.

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