Economics 9708 · AS & A Level · Maximum and minimum prices

Maximum and minimum prices — practice question

Which government policy could restrict the rationing function of the price mechanism?

  • Athe abolition of tariffs on imported consumer goods
  • Bthe levy of indirect taxes at varying rates on different goods
  • Cthe payment of subsidies to exporters
  • Dthe setting of minimum prices for milk

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI