Markets Quiz - Edexcel Business Studies A-Level

Substitutes Showdown: Coca-Cola raises its price, and suddenly Pepsi sales skyrocket. Which factor explains this soda switch?

• Changes in consumer incomes

• Changes in the prices of substitutes

• Seasonality

• External shocks

Income Invasion: After a big pay rise, Dave splurges on luxury sneakers instead of his usual budget flip-flops. What’s driving his demand?

• Fashions and tastes

• Changes in consumer incomes

• Advertising and branding

• Demographics

Fashion Frenzy: TikTok influencers make bucket hats the must-have item of 2025. What’s shifting demand here?

• External shocks

• Fashions, tastes, and preferences

• Prices of complementary goods

• Seasonality

Ad Attack: A viral Super Bowl ad convinces everyone they NEED a new air fryer. Which factor is at play?

• Advertising and branding

• Changes in consumer incomes

• Demographics

• Substitutes

Winter Woes: Hot chocolate sales soar in December but flop in July. What’s the demand driver?

• External shocks

• Seasonality

• Complementary goods

• Fashions and preferences

Costly Conundrum: The price of wheat doubles, and bakeries cut back on bread production. What’s affecting supply?

• Introduction of new technology

• Changes in the costs of production

• Government subsidies

• External shocks

Tech Triumph: A new robot packs widgets twice as fast, flooding the market with them. What’s boosting supply?

• Indirect taxes

• Introduction of new technology

• Costs of production

• External shocks

Tax Trouble: The government slaps a hefty tax on sugary drinks, and soda companies scale back. What’s the culprit?

• Indirect taxes

• Government subsidies

• New technology

• Costs of production

Farmers get cash from the government to grow more carrots, and the market’s suddenly orange. What’s helping supply?

• External shocks

• Government subsidies

• Indirect taxes

• New technology

Stormy Setback: A hurricane wipes out a factory, and toy production halts. What’s hitting supply?

• Costs of production

• External shocks

• Government subsidies

• Indirect taxes