AQA ECON1 Multiple Choice Q help

Hi,

Just wondering if anyone could explain question 14 of the june 2008 paper to me. How is the answer D?

Here is the link: http://store.aqa.org.uk/qual/gceasa/qp-ms/AQA-ECN1-1-W-QP-JUN08.PDF

Thank you

I always hate these questions because textbooks/teachers never go through how to do them. With some number crunching I did:
18 * 6 = 108
18 * 10 = 180

180-108 = 72(000) - Remember, it's 180000-108000.

I chose these values as they correspond to the £18 figure in the question.

I understand it now.. thank you very much!
Also, I would just like to say your youtube videos are very useful

Thanks, how did you know about my YT videos?! Please subscribe and like my YouTube channel!

I recently found it on a post on one of the TSR threads
Also, hope you don't mind me asking..
http://store.aqa.org.uk/qual/gce/pdf/AQA-ECON1-W-QP-JAN10.PDF
^for the essay question 26, if I was talking about the the for side- leaving it to mark forces.. What would you include?

Is it that the increase in Demand (from people buying too much) would cause Price to increase.. people would ration, this signals to producers that there is a shortage in supply and price is high, incentive to supply to that market and encourages more firms to supply as high profit is available?

Thank you so much in advance

Hi,

Just wondering if anyone could explain question 14 of the june 2008 paper to me. How is the answer D?

Here is the link: http://store.aqa.org.uk/qual/gceasa/qp-ms/AQA-ECN1-1-W-QP-JUN08.PDF

Thank you

Well I did (quantity supplied-quantity demanded) x price.

So (10000-6000) x 18
=4000 x 18
=£72000

Hiya, I made this tutorial on the subject, hope it helped!

Why did you choose the quantity and supply at £14? Or am I missing something?