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1.3 Price determination in a competitive market

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Question 109

Two products are in competitive supply when

A

an increase in the output of one product is accompanied by a decrease in the supply of the other.

B

a decrease in the price of one product leads to a reduction in the supply of the other.

C

they are automatically produced together from the same manufacturing process.

D

a rise in consumer demand for one product leads to a rise in the demand for the other.

Markscheme

1.3 Price determination in a competitive market Questions

  1. A Level
  2. /Economics
  3. /1.3 Price determination in a competitive market

256 exam-style questions on AQA A Level Economics 1.3 Price determination in a competitive market, covering 1.3.1 The determinants of the demand for goods and services, 1.3.2 Price, income and cross elasticities of demand, 1.3.3 The determinants of the supply of goods and services, 1.3.4 Price elasticity of supply, 1.3.5 The determination of equilibrium market prices, and 1.3.6 The interrelationship between markets. Each one has a worked solution and a mark scheme showing where the marks go.

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