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1.3 How prices are determined

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Question 39

A screen-printing business makes printed team shirts. The market price of printed team shirts rises.

In which situation would the quantity of printed team shirts the business supplies over the next month be least responsive to the price rise?

[1]
A

Its presses are fully booked, and a new press would take three months to install

B

It holds a large stock of finished shirts ready to sell

C

Its presses stand idle for two days in every working week

D

Its presses are fully booked, but staff can run an extra shift at short notice

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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