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2.2 Demand

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Question 1

A passenger ferry and a water taxi provide substitute ways to cross a river. The ferry fare falls, while water-taxi fares stay unchanged.

Which outcome is most likely for water-taxi journeys?

[1]
A

More water-taxi journeys are demanded at every fare

B

Fewer water-taxi journeys are demanded at every fare

C

Water-taxi journeys are unchanged, as their fare has not changed

D

Fewer water-taxi journeys are demanded only at the current fare

Markscheme

2.2 Demand Questions

  1. GCSE
  2. /Economics
  3. /2.2 Demand

82 exam-style questions on OCR GCSE Economics 2.2 Demand, covering 2.2.1 What is demand, 2.2.2 Draw a demand curve using data, 2.2.3 Explain a demand curve, 2.2.4 Shifts and movements of the demand curve, 2.2.5 Causes and consequences of demand changes, 2.2.6 Price elasticity of demand, 2.2.7 Draw demand curves of different elasticity, and 2.2.8 Importance of price elasticity of demand. Each one has a worked solution and a mark scheme showing where the marks go.

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