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1.3 How prices are determined

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Question 48

Coca-Cola and Tesco own-brand cola are substitutes. The price of Coca-Cola has not changed, but demand for Coca-Cola has decreased.

What change is most likely to explain the decrease in demand for Coca-Cola?

[1]
A

The price of Tesco own-brand cola falls

B

The price of Tesco own-brand cola rises

C

Buyers expect the price of Coca-Cola to rise soon

D

The cost of producing Coca-Cola rises

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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