A-LevelEconomicsInternational Trade and Global Economy / Terms of TradeOct/Nov 2024Paper 1 Q271 Mark
The table shows the average price of exports and imports. [Table 27.1] Which combination of changes in export prices and import prices could result in a country's terms of trade increasing from 100 to 110?
Athe average price of exports: falls by 5%, the average price of imports: rises by 5%
Bthe average price of exports: remains unchanged, the average price of imports: rises by 10%
Cthe average price of exports: rises by 5%, the average price of imports: falls by 5%
Dthe average price of exports: rises by 10%, the average price of imports: remains unchanged
✓ Correct Answer
The correct answer is D. This question tests the candidate's understanding of international trade and global economy / 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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