A-level Paper 1, November 2020Markets and Business Behaviour

A-level Paper 1, November 2020, Q7

Evaluate the likely microeconomic consequences of consumers shifting from vehicles powered by fuel obtained from oil to electric-powered vehicles.

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Context

The International Energy Agency has predicted that oil use by cars will peak in 2025 because of the increasing number of drivers switching to electric vehicles.

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Specification topics

Price determinationDemandExternalitiesDemand for labour

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