O-LevelEconomicsThe allocation of resources2281/12 · May/June 2024 · Q91 Mark

Which government measure is most likely to cause a fall both in price and in quantity traded?

Aindirect tax

Bmaximum price

Cminimum price

Dsubsidy

✓ Correct answer

B: maximum price

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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 9.

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