Price changes
2.5What the syllabus asks of you
- Causes of price changes: how price changes are caused by changes in demand and supply
- Consequences of price changes: effect of price changes on sales
- Consequences of price changes: use of demand and supply diagrams to illustrate the impact of changes in market conditions
Read the notes first
Chapter 2: Price changes
Drill this topic
Every question on Price changes, untimed, marked as you go.
Make a worksheet
Choose the years and how many questions, then print it with the answers on separate pages.
28 questions
1Oct / Nov 2025 · Paper 12 · Q5Show mark scheme →
Aa decrease in the price of a substitute good
Ba decrease in raw material prices
Can increase in the price of a substitute good
Dan increase in raw material prices
Mark scheme
2May / June 2025 · Paper 11 · Q5Show mark scheme →
Aprice of peaches: fall; quantity of peaches traded: fall
Bprice of peaches: rise; quantity of peaches traded: rise
Cprice of peaches: rise; quantity of peaches traded: uncertain
Dprice of peaches: uncertain; quantity of peaches traded: rise
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3Oct / Nov 2024 · Paper 12 · Q4Show mark scheme →
Aa shortage of rice and a fall in its price
Ba shortage of rice and a rise in its price
Ca surplus of rice and a fall in its price
Da surplus of rice and a rise in its price
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4Oct / Nov 2024 · Paper 12 · Q7Show mark scheme →
Aa decrease in demand with a decrease in supply
Ba decrease in demand with an increase in supply
Can increase in demand with a decrease in supply
Dan increase in demand with an increase in supply
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5Oct / Nov 2024 · Paper 13 · Q4Show mark scheme →
Amarket for cocoa: excess demand; advertising expenditure on products made from cocoa: decrease
Bmarket for cocoa: excess supply; advertising expenditure on products made from cocoa: decrease
Cmarket for cocoa: excess demand; advertising expenditure on products made from cocoa: increase
Dmarket for cocoa: excess supply; advertising expenditure on products made from cocoa: increase
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6Oct / Nov 2024 · Paper 13 · Q5Show mark scheme →
AIt will fall by $10.
BIt will fall by $40.
CIt will rise by $10.
DIt will rise by $200.
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7Oct / Nov 2024 · Paper 13 · Q16Show mark scheme →
Adecrease / decrease
Bdecrease / increase
Cincrease / decrease
Dincrease / increase
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8May / June 2024 · Paper 11 · Q6Show mark scheme →
Adecrease in the demand for tea
Bdecrease in the price of a substitute good
Cincrease in the price of a substitute good
Dincrease in the supply of tea
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9May / June 2024 · Paper 12 · Q6Show mark scheme →
Ademand and supply diagram for petrol: shift of the demand curve to the left; demand and supply diagram for the store's goods: shift of the supply curve to the left
Bdemand and supply diagram for petrol: shift of the demand curve to the right; demand and supply diagram for the store's goods: shift of the demand curve to the left
Cdemand and supply diagram for petrol: shift of the supply curve to the left; demand and supply diagram for the store's goods: shift of the supply curve to the right
Ddemand and supply diagram for petrol: shift of the supply curve to the right; demand and supply diagram for the store's goods: shift of the demand curve to the right
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10Oct / Nov 2023 · Paper 12 · Q9Show mark scheme →
AThe price of tomatoes will fall.
BThe price of tomatoes will rise.
CThe quantity of tomatoes traded will fall.
DThe quantity of tomatoes traded will rise.
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11Oct / Nov 2023 · Paper 12 · Q10Show mark scheme →
Achanges in demand and supply conditions
Bchanges in external costs and external benefits
Cchanges in government decisions
Dchanges in the quantity of public goods
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12May / June 2023 · Paper 12 · Q9Show mark scheme →
AThe cost of raw materials falls.
BThe incomes of consumers rise.
CThe price of a complement rises.
DThe price of a substitute falls.
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13Oct / Nov 2022 · Paper 13 · Q6Show mark scheme →
A
B
C
D
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14May / June 2021 · Paper 11 · Q4Show mark scheme →
Athe calculation of national income and expenditure
Bthe effects of a change in exchange rates on the trade balance of an economy
Cthe effects of an increase in the price of a good or service
Dthe factors leading to demand-pull inflation
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15Oct / Nov 2020 · Paper 12 · Q6Show mark scheme →
A
B
C
D
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16May / June 2019 · Paper 11 · Q30Show mark scheme →
Aprice of products: fall; volume of imports: fall
Bprice of products: fall; volume of imports: rise
Cprice of products: rise; volume of imports: fall
Dprice of products: rise; volume of imports: rise
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17May / June 2019 · Paper 12 · Q30Show mark scheme →
Aprice of products: fall; volume of imports: fall
Bprice of products: fall; volume of imports: rise
Cprice of products: rise; volume of imports: fall
Dprice of products: rise; volume of imports: rise
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18Oct / Nov 2018 · Paper 12 · Q5Show mark scheme →
A
B
C
D
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19Oct / Nov 2018 · Paper 13 · Q6Show mark scheme →
AChina's growth slowed leading to lower oil imports.
BSaudi Arabia increased the volume of its oil supplies.
CUK protest groups prevented the introduction of fracking projects.
DUSA became more self-sufficient in oil due to fracking and reduced imports.
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20May / June 2018 · Paper 12 · Q5Show mark scheme →
A
B
C
D
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21Oct / Nov 2017 · Paper 12 · Q7Show mark scheme →
AA
BB
CC
DD
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22May / June 2017 · Paper 12 · Q7Show mark scheme →
Athe continuing global recovery from the world economic recession
Bthe increasing exploitation of US oil reserves
Cthe re-entry of Iranian producers to the world oil market
Dthe shorter journeys from using the new Suez Canal
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23May / June 2017 · Paper 12 · Q10Show mark scheme →
A
B
C
D
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24Oct / Nov 2016 · Paper 12 · Q4Show mark scheme →
Athe demand curve moved to the left
Bthe demand curve moved to the right
Cthe supply curve moved to the left
Dthe supply curve moved to the right
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25Oct / Nov 2016 · Paper 13 · Q4Show mark scheme →
Athe demand curve moved to the left
Bthe demand curve moved to the right
Cthe supply curve moved to the left
Dthe supply curve moved to the right
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26May / June 2016 · Paper 11 · Q7Show mark scheme →
Aa government subsidy to rice farmers
Ba successful advertising campaign for rice
Cimproved rice farming methods
Dpoor weather conditions
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27May / June 2016 · Paper 11 · Q15Show mark scheme →
AA
BB
CC
DD
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28May / June 2016 · Paper 12 · Q7Show mark scheme →
Afalls by 5% | falls by 10%
Bfalls by 10% | falls by 5%
Cunchanged | falls by 10%
Drises by 15% | falls by 5%
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