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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The table shows the changes in two influences on the demand for and supply of televisions. If these two changes occurred at the same time, in which case is it impossible for the price of televisions to rise?

2281_s11_qp_11

MCQ

2011

Paper 1, Variant 1

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The table shows the changes in two influences on the demand for and supply of televisions. If these two changes occurred at the same time, in which case is it impossible for the price of televisions to rise?

2281_s11_qp_12

MCQ

2011

Paper 1, Variant 2

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A shop sells chocolate birthday cakes. When the price was $15 it sold 40 cakes. It reduced the price to $10 and sold 60 cakes. What can be concluded from this?

2281_s12_qp_11

MCQ

2012

Paper 1, Variant 1

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Maize and fuel are used in the production of Mexican tortillas. In 2010 Mexico produced a record maize crop but in 2011 rises in the price of fuel increased costs for tortilla makers. What is likely to have happened to the price of tortillas in 2010 and 2011?

2281_s13_qp_11

MCQ

2013

Paper 1, Variant 1

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A price index is used to compare retail prices from one year to another. In 2001 the retail price of a litre of oil was $0.50. Using 2001 as a base year (index 100), for which year was the oil price index 140?

2281_s13_qp_11

MCQ

2013

Paper 1, Variant 1

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Why is a firm in perfect competition a price taker?

2281_s13_qp_12

MCQ

2013

Paper 1, Variant 2

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A product has a price elasticity of supply of +2. A change in price causes the quantity supplied to change from 100 units to 120 units. What is the price change?

2281_s15_qp_12

MCQ

2015

Paper 1, Variant 2

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