O-LevelEconomicsThe allocation of resources2281/11 · May/June 2013 · Q271 Mark

The graph shows the impact of a tax on the supply of petrol (gas). [Figure 27.1] What can be concluded from this graph?

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Athe government will receive no tax revenue

Bthe impact of the tax will be shared between the consumer and the producer

Cthe impact of the tax will fall entirely upon the consumer

Dthe impact of the tax will fall entirely on the producer

✓ Correct answer

C: the impact of the tax will fall entirely upon the consumer

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2013 Paper 1 Variant 1, question 27.

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