9708_m19_qp_12
A paper of Economics, 9708
Questions:
30
Year:
2019
Paper:
1
Variant:
2
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8
The table shows Shanaz’s and Sunil’s price elasticity of demand for restaurant meals and theatre tickets. Shanaz Sunil restaurant meals –0.8 –1.2 theatre tickets –1.3 –0.7 There is a rise in the price of restaurant meals and a fall in the price of theatre tickets. What can be concluded after these price changes?
2. The price system and the microeconomy (AS Level)  →  2.2. Price elasticity, income elasticity and cross elasticity of demand
2. The price system and the microeconomy (AS Level)  →  2.5. Consumer and producer surplus
Open
13
Producer surplus is the difference between A the consumer surplus from the good and the producers’ total cost of supplying the good. B the highest price that the consumer would be willing to pay for the good and the price the producer actually sold it for. C the lowest price that the producer would accept for the good and the price the producer actually sold it for. D the quantity that the producers manufacture in a week and the amount sold to consumers in that week.
2. The price system and the microeconomy (AS Level)  →  2.5. Consumer and producer surplus
Open
18
A government is concerned that foreign-owned companies are responsible for a high proportion of the economy’s output. Therefore it nationalises timber extraction, which is controlled by a foreign-owned company. What benefit will the economy gain from the change in ownership?
7. The price system and the microeconomy (A Level)  →  7.4. Private costs and benefits, externalities and social costs and benefits
6. International economic issues (AS Level)  →  6.1. The reasons for international trade
Open
20
In the diagram Sd is the domestic supply of a product, Sw is the world supply and Dd is the domestic demand for the product. quantity price ($) Dd Sw Sd After operating a free trade system the country bans all imports. What will be the effect on the revenue of domestic producers and world producers of the ban?
5. Government macroeconomic intervention (AS Level)  →  5.4. Supply-side policy
6. International economic issues (AS Level)  →  6.4. Exchange rates
2. The price system and the microeconomy (AS Level)  →  2.4. The interaction of demand and supply
Open
22
Countries M and N produce the world supply of machines and textiles. The table shows what each country produces when it divides its resources equally between the two products. machines textiles country M country N total What should happen according to the principle of comparative advantage?
6. International economic issues (AS Level)  →  6.1. The reasons for international trade
1. Basic economic ideas and resource allocation (AS Level)  →  1.1. Scarcity, choice and opportunity cost
Open