A-LevelEconomicsInternational Trade and PaymentsFeb/Mar 2019Paper 1 Q201 Mark
In the diagram Sd is the domestic supply of a product, Sw is the world supply and Dd is the domestic demand for the product. After operating a free trade system the country bans all imports. What will be the effect on the revenue of domestic producers and world producers of the ban?
Adomestic producers $m: gain 120, world producers $m: lose 50
Bdomestic producers $m: gain 120, world producers $m: lose 90
Cdomestic producers $m: gain 160, world producers $m: lose 50
Ddomestic producers $m: gain 160, world producers $m: lose 90
✓ Correct Answer
The correct answer is B. This question tests the candidate's understanding of international trade and payments 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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