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1.2.1 Rational decision making

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Question 2

In 2022, global supply chain disruptions led to severe shortages of semiconductor microchips, which affected the availability of gaming consoles, smartphones, and new vehicles.

Explain one reason why it is rational for a manufacturer or retailer to raise its prices when there is excess demand for its products.

[3]
Markscheme

1.2.1 Rational decision making Questions

  1. A Level
  2. /Economics
  3. /1.2.1 Rational decision making

6 exam-style questions on Edexcel A A Level Economics 1.2.1 Rational decision making. Each one has a worked solution and a mark scheme showing where the marks go.

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