Tea and sugar are complementary goods. What will happen if the price of tea falls, other things being equal?

2281_s06_qp_1

MCQ

2006

Paper 1, Variant 0

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The price of a good is temporarily above the market equilibrium price. What must happen for the market to be brought back to equilibrium?

2281_s06_qp_1

MCQ

2006

Paper 1, Variant 0

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The table gives the price of a paperback book as printed on its back cover. United Kingdom £6.99 Canada $11.99 (Canadian dollars) Australia $14.99 (Australian dollars) New Zealand $20.95 (New Zealand dollars) What is needed to make a clear comparison of the price in the four countries?

2281_s06_qp_1

MCQ

2006

Paper 1, Variant 0

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Due to good weather, there is a surplus in the market for an agricultural product. Which change would cause the market to return to equilibrium?

2281_s08_qp_1

MCQ

2008

Paper 1, Variant 0

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In July 2006, the UK chocolate producer, Cadbury Schweppes, had to withdraw one million bars of chocolate from the market because of food contamination at one of its factories. This was widely reported in UK newspapers. Which diagram shows the likely effect on the market for chocolate produced by Cadbury Schweppes?

2281_s08_qp_1

MCQ

2008

Paper 1, Variant 0

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What combination of events might cause a rise in the willingness and the ability of consumers to buy a product?

2281_s08_qp_1

MCQ

2008

Paper 1, Variant 0

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The market for a good was in equilibrium. A change occurred which resulted in a new equilibrium with a higher price for the good and a lower quantity traded. What change would have caused this?

2281_s09_qp_1

MCQ

2009

Paper 1, Variant 0

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It was reported that a company producing designer clothes had increased its revenue by 20 % at a time when it decreased its prices. What does this suggest about the demand for these goods at that time?

2281_s09_qp_1

MCQ

2009

Paper 1, Variant 0

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What is not an important step in the construction of an accurate Retail Price Index?

2281_s09_qp_1

MCQ

2009

Paper 1, Variant 0

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A large amount of the agricultural products in a country were damaged by floods. What is likely to have happened to the price of agricultural products and the volume of imports of agricultural products?

2281_s09_qp_1

MCQ

2009

Paper 1, Variant 0

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