O-LevelEconomicsThe allocation of resources2281/11 · May/June 2014 · Q71 Mark

Russia is the world's third largest exporter of grain but much of the country's farmland was damaged by fire in 2010. How would this be represented on demand and supply diagrams for the Russian grain market and for a country importing Russian grain?

Ademand curve shifts to the left demand curve shifts to the right

Bdemand curve shifts to the right supply curve shifts to the right

Csupply curve shifts to the left supply curve shifts to the left

Dsupply curve shifts to the right demand curve shifts to the left

✓ Correct answer

C: supply curve shifts to the left supply curve shifts to the left

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2014 Paper 1 Variant 1, question 7.

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