Allocation of Resources · 4 question types
Past paper frequency (2018 to 2024)
This topic accounts for approximately 16% of your exam marks.
Equilibrium price, surplus/shortage, and price mechanism analysis are core Section B content; tested in most Paper 2 sittings.
A demand-and-supply schedule is a table that lists, for each price, the quantity demanded and the quantity supplied. The equilibrium price is the row where the two columns are equal.