Economics (AS & A Level) · Oct / Nov 2021 · Paper 12 · Question 9

In 2016 car drivers bought more fuel because the price of oil from which it was made had fallen. Which diagram represents this change in the market for fuel?

1. ADiagram A: price of fuel vs quantity of fuel, demand shifts from D1 to D2 (rightward), supply S upward sloping, price rises from P1 to P2, quantity rises from Q1 to Q2
2. BDiagram B: price of fuel vs quantity of fuel, horizontal supply S at price P, demand shifts from D1 to D2 (rightward), quantity rises from Q1 to Q2
3. CDiagram C: price of fuel vs quantity of fuel, demand shifts from D1 to D2 (rightward), supply S upward sloping, price falls from P1 to P2, quantity rises from Q1 to Q2
4. DDiagram D: price of fuel vs quantity of fuel, supply shifts from S1 to S2 (rightward), demand D downward sloping, price falls from P1 to P2, quantity rises from Q1 to Q2

As printed in the paper