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Economics · May / June 2016 · Paper 12 · Question 7

2281Price changes

The diagram shows the price of a product during year 1 and year 2. Which changes in demand and supply are consistent with the price behaviour in year 2?

  1. Afalls by 5% | falls by 10%
  2. Bfalls by 10% | falls by 5%
  3. Cunchanged | falls by 10%
  4. Drises by 15% | falls by 5%

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Correct answer: B. falls by 10% | falls by 5%

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