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2.4 Price

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Question 37

At £12, quantity demanded is 500 units and quantity supplied is 350 units. What exists at this price?

[1]
A

A surplus of 150 units

B

Equilibrium at 425 units

C

A surplus of 850 units

D

Excess demand of 150 units

Markscheme

2.4 Price Questions

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

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.

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