O-LevelEconomicsInternational trade and globalisation2281/12 · May/June 2024 · Q271 Mark

The diagram shows the market for an imported good with equilibrium at point X. The country imposes a tariff on this good. Is the new equilibrium at point A, B, C or D? [Diagram of market for imported good with points A, B, C, D, X]

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B: B

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Topic: International trade and globalisation, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2024 Paper 1 Variant 2, question 27.

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The diagram shows the market for an imported good with equilibrium at point X. The country imposes a tariff on this good. Is the new equilibrium at point A, B, C or D? [Diagram of market for imported good with points A, B, C, D, X]

✓ Correct answer

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