Paper 2 structured question: The role of markets in allocating resources
Paper 2Structured Questions1 marks
Description
Market for Oranges
As consumers become more health-conscious, the demand for oranges has risen sharply. However, the supply has not increased at the same rate due to seasonal factors.
- a[1]
State the effect of increased demand on the price of oranges.
Aim for approximately 1 distinct marking point.