CAIE IGCSE Economics 2.5.2 Consequences of Price Changes Questions
Practise Cambridge IGCSE Economics by analysing simultaneous demand and supply shifts and their effects on equilibrium price and quantity.
- Syllabus
- 2027–2029
- Course
- Economics 0455
Exam points
- Analyse simultaneous changes in demand and supply using market diagrams.
- Identify the effect of taxes, price changes and external events on equilibrium.
- Determine changes in equilibrium price and quantity from demand and supply shifts.
CAIE IGCSE Economics 2.5.2 Consequences of Price Changes Questions question 1
[Maximum number: 1]
The price of petrol increases in a country with a market economic system.
What is a consequence of this?
A
More cars are bought.
B
The costs of road transport increase.
C
The quantity of petrol supplied falls.
D
There is a shortage of petrol.
B
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