Over a year, the equilibrium price of a cycle helmet fell from £40 to £34, and the number of helmets sold each month rose from 5,000 to 6,200. Which single change is most likely to explain this?
Fewer people took up cycling, so fewer new riders went out to buy helmets
Helmet makers began using a faster moulding machine that cut the cost of each helmet
More cyclists decided that they should wear a helmet on every journey
The price of the plastic used to make the outer shell of helmets rose
75 exam-style questions on OCR GCSE Economics 2.4 Price, covering 2.4.1 Price and distribution of resources, 2.4.2 Equilibrium price and quantity, 2.4.3 Draw the interaction of demand and supply, 2.4.4 Analyse the interaction of demand and supply, 2.4.5 Role of markets in allocating resources, and 2.4.6 Market forces and equilibrium. Each one has a worked solution and a mark scheme showing where the marks go.