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Question 20N.3.HL.TZ0.d.i

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Date November 2020 Marks available [Maximum mark: 1] Reference code 20N.3.HL.TZ0.d.i
Level HL Paper 3 Time zone TZ0
Command term Identify Question number d.i Adapted from N/A
d.i.
[Maximum mark: 1]
20N.3.HL.TZ0.d.i

Figure 6 illustrates the demand and supply conditions for rice in Country B, where Dd is domestic demand, Sd is domestic supply and Sw is world supply.

Using Figure 6, identify the equilibrium price when Country B engages in free trade.

[1]

Markscheme

$4 OR 4 is sufficient for [1].

Examiners report

Weaker candidates interpreted "free trade" as a free market (without international trade) and gave $7 as the answer. Most candidates provided the correct response.

Syllabus sections