What this practice covers
These questions are drawn from past Edexcel A-Level papers and filtered to how markets work. You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
Start practising multiple-choice questions →
What examiners see students get wrong here
These are the errors that cost marks on how markets work, taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Confusing a movement along with a shift.
- Dropping the sign in YED and XED, where the sign carries the meaning.
- Saying an elasticity is "high" without comparing it to 1.
- Treating "inferior good" as low quality; it means demand falls as income rises.
- Reversing the surplus areas, consumer surplus is below demand, above price.
- Treating government tax revenue as part of the deadweight loss; it is a transfer.
- Ignoring elasticity when discussing tax incidence.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: How Markets Work revision notes.