A-LevelEconomicsTerms of TradeOct/Nov 2017Paper 1 Q241 Mark
Which formula is used to calculate a country's terms of trade?
Aindex of export prices – index of import prices
Bindex of import prices – index of export prices
C(index of export prices / index of import prices) × 100
D(index of import prices / index of export prices) × 100
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of terms of trade 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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