A-LevelEconomicsInternational Trade and Global EconomyMay/June 2022Paper 1 Q251 Mark
A small country imposes no tariffs and has a perfectly elastic supply of smartphones from the rest of the world. Which statement is correct after the imposition of a tariff?
AThe domestic demand for smartphones will rise.
BThe domestic price of smartphones will rise.
CThe government will lose tax revenue.
DThe supply of imports will increase.
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of international trade and global economy within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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