Skip to content
MathsGenie logo
Quick links
Open app

Course home

  1. A Level
  3. Economics Edexcel A
  5. Question bank

1.2.1 Rational decision making

EasyMedium
123
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]

1.2.1 Rational decision making Questions

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