A-LevelEconomicsInternational TradeMay/June 2018Paper 1 Q131 Mark
In the diagram, D and S represent the domestic demand and supply curves for a product. Sw represents world supply of the product at a world price of Pw. The initial domestic market equilibrium of the product is at E1. If foreign trade were to be banned completely, the domestic market equilibrium would be at E2. [Figure showing domestic supply (S), domestic demand (D), world supply (Sw) at Pw, and points X, Y, E1, E2, Z, Q1.] What would be the loss of consumer surplus if all foreign trade were banned?
APwXE1
BPwYE2E1
CYXE2
DZYE2
✓ Correct Answer
The correct answer is B: PwYE2E1
📋 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...
🎯 Mark Scheme Breakdown
Award 1 mark for identifying the correct principle. Award 1 mark for showing clear working. Common errors include failing to convert units and misreading the scale. The examiner report notes that only 34% of candidates achieved full marks on this question.
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