The popularity of niche, intimate music festivals has surged in recent years. Organisers of the Solstice Echoes Festival have capped attendance to maintain its boutique atmosphere, but demand for tickets has risen dramatically.
Despite steady increases in ticket prices, Solstice Echoes passes sell out more rapidly each year, leaving many prospective attendees without tickets.
Fig. 2: Sell-out times for Solstice Echoes weekend passes
| Year | Time to sell out |
|---|---|
| 2019 | 24 HOURS |
| 2020 | 10 HOURS |
| 2021 | CANCELLED |
| 2022 | 4 HR 30 M |
| 2023 | 1 HR 45 M |
| 2024 | 50 MINUTES |
Using Fig. 2, describe what happened to the time taken to sell Solstice Echoes passes between 2019 and 2023.
45 exam-style questions on OCR A Level Economics Demand. Each one has a worked solution and a mark scheme showing where the marks go.