Price Determination — Edexcel Past Paper Questions

With reference to Extract A, explain the likely reasons for the change in price of electronic devices. Include a supply and demand diagram in your answer.

1.2.6 Price Determination

With reference to Figure 2 and your understanding of price elasticity, examine two factors that may cause significant changes in the international price of coffee beans.

1.2.5 Price Elasticity of Supply · 1.2.6 Price Determination

The International Energy Agency has predicted that oil use by cars will peak in 2025 because of the increasing number of drivers switching to electric vehicles. (Source adapted from: https://www.thetimes.co.uk) Evaluate the likely microeconomic consequences of consumers shifting from vehicles powered by fuel obtained from oil to electric‑powered vehicles.

One of two options in Section C — candidates answered this or the other.

1.2.6 Price Determination · 1.3.2 Externalities

With reference to Figure 1, explain one likely reason for the overall trend in the real price of gas and electricity.

1.2.6 Price Determination