Economics 2281 · O Level · Price determination

Price determination — practice question

The table gives the world output of iron ore and the average annual price for four years. What conclusion can be drawn about the relationship between world output of iron ore and the average annual price over the four years?

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