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1.3 How prices are determined

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Question 8

Table 1 shows one consumer's weekly demand for cinema tickets.

Price per ticket (£)Quantity demanded per week
412
69
86
103

Using Table 1, which coordinate belongs on this consumer's demand curve when quantity is on the horizontal axis and price is on the vertical axis?

[1]
A

Quantity 12 tickets, price £6

B

Quantity 3 tickets, price £4

C

Quantity 6 tickets, price £8

D

Quantity 9 tickets, price £10

Markscheme

1.3 How prices are determined Questions

  1. GCSE
  2. /Economics
  3. /1.3 How prices are determined

236 exam-style questions on AQA GCSE Economics 1.3 How prices are determined, covering 1.3.1a Demand and the factors that influence it, 1.3.1b The demand curve, 1.3.2a Supply and the factors that influence it, 1.3.2b The supply curve, 1.3.3a Determining equilibrium price, 1.3.3b Applying diagrams and showing revenue, 1.3.4a Complements and substitutes, 1.3.4b Effects of changes on related markets, 1.3.5a Price elasticity of demand, 1.3.5b Factors affecting price elasticity of demand, 1.3.5c Measuring PED and its implications, 1.3.6a Price elasticity of supply, 1.3.6b Factors affecting price elasticity of supply, and 1.3.6c Measuring PES and its implications. Each one has a worked solution and a mark scheme showing where the marks go.

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