A-LevelEconomicsInternational TradeMay/June 2017Paper 1 Q221 Mark
The table gives information about the trade between Singapore and New Zealand during 2001, the first year after they signed a free trade agreement. The values are given both in Singapore dollars (S$) and New Zealand dollars (NZ$). [Figure 22.1] What can be concluded from the table?
ANew Zealand gained more than Singapore from the trade agreement.
BNew Zealand's trade position with Singapore improved in 2001.
CSingapore had a trade surplus with New Zealand in 2001.
DThe exchange rate in 2001 was approximately NZ$1 = S$1.2.
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of international trade within the Economicssyllabus. The examiner's mark scheme requires...
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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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