Economics · May / June 2017 · Paper 11 · Question 4

The diagram shows the market for a product. Which statement about the points marked on the diagram is correct?

1. AThe distance from W to X shows a shortage of the product.
2. BThe distance from Z to Y shows a surplus of the product.
3. CThe movement from W to Y shows a fall in the quantity demanded of the product.
4. DThe movement from X to Z shows a fall in the quantity supplied of the product.

As printed in the paper