6 marksPrice Determination and Market Equilibrium

CSEC Economics · May/June 2009 · Paper 2 · Question 1(d)

With the aid of a diagram, discuss TWO effects of setting a price ceiling below the equilibrium price for rice.

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Other parts of this question

1(a)Define the term 'opportunity cost'.[2 marks]
1(b)List THREE factors that firms must consider when determining what goods or services to produce.[3 marks]
1(c)Outline TWO factors that might affect the distribution of goods in your territory.[4 marks]

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