Economics (AS & A Level) · May / June 2021 · Paper 11 · Question 11

Prices of gold, silver and copper fell considerably in 2011 and again in 2015. The fall in prices in 2011 was said to be because miners increased production. The fall in prices in 2015 was because demand, especially from China, decreased. Assuming that the equilibrium before 2011 was X, how would these movements in 2011 and subsequently in 2015 be shown on the demand and supply diagram?

1. AX, Q, R
2. BX, R, Q
3. CX, S, R
4. DX, T, S

As printed in the paper