A-LevelEconomicsInternational Trade & Global EconomyOct/Nov 2022Paper 1 Q271 Mark
The diagram shows the effect of introducing a tariff on a product. What determines the producer surplus that the tariff generates for domestic producers?
Athe price elasticities of domestic supply and demand
Bthe tariff rate and the price elasticities of both domestic demand and supply
Cthe tariff rate and the price elasticity of domestic demand
Dthe tariff rate and the price elasticity of domestic supply
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of international trade & 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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