Economics P2 May/June 2022 SECTION A 1.2

Sort elements

• E – mechanism that brings together buyers and sellers of goods and services
• D – firms that have control over the market price
• I – the lowest amount that the employers are required by the government to pay their workers
• F – these are undersupplied by the market but beneficial to society
• G – excludes items from the CPI basket that show high price volatility
• A – increase in salaries that results in workers paying a higher income tax rate
• C – tradition, rituals or music that are unique to a given culture or society
• B – imposed on the output of goods that generates external environmental cost
• H- market structure with a few firms selling heterogeneous products