Question 25
Figure 2 shows a market supply curve for strawberries. The market price changes from £4 to £8 per punnet.
Which of the following best describes the change shown in Figure 2?
At the higher price, growers extend weekly output from 2000 to 6000 punnets along S
Growers reduce weekly output because curve S moves towards the vertical axis
Market supply increases because a second curve appears to the right of S
Production costs rise, shifting the whole of curve S towards the vertical axis
1.3 How prices are determined Questions
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.