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1.3 How prices are determined

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Question 19

Table 1 shows four proposed explanations of changes in a market.

RowEventProposed effect
AThe product's price risesDemand shifts left
BHousehold incomes rise for a normal goodDemand shifts right
CThe price of a complement fallsDemand shifts left
DAdvertising is reducedMovement up the demand curve

Using Table 1, which row is correct?

[1]
A

Row A

B

Row B

C

Row C

D

Row D

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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