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2.4 Price

2.4 Price

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Question 5

Demand for a product falls while its supply also falls. Which outcome cannot be determined without knowing the size of each shift?

[1]
A

Whether equilibrium quantity falls

B

Whether equilibrium price rises or falls

C

Whether the demand curve moved

D

Whether the supply curve moved

Markscheme

2.4 Price Questions

  1. GCSE
  2. /Economics
  3. /2.4 Price

30 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.

Question bank