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1.3 Price determination in a competitive market

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Question 139

Which one of the following is an example of composite demand?

A

The demand for steel increases as a direct consequence of an expansion in global commercial shipbuilding.

B

The demand for crude oil rises because it can be processed into petrol, aviation fuel, or petrochemical plastics.

C

The demand for hydrogen fuel-cell vehicles increases alongside a rise in the deployment of hydrogen refuelling stations.

D

The demand for oat milk increases following a price rise in dairy milk, leading consumers to substitute between them.

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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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