9 Questions
What was the majority of candidates able to accurately illustrate in their answer for Question 1(a)?
A parallel shift left in supply to secure the two knowledge marks.
What was the minority's mistake in illustrating the shift in Question 1(a)?
Illustrating the shift as an ad-valorem tax and thus only securing one knowledge mark.
What was the common accuracy in answering Question 2(a)?
Many candidates were able to answer the question well.
Did the majority of candidates accurately apply the consumer and producer tax incidence in their answer for Question 1(a)?
True
Did the answer that scored the full 4 marks for Question 1(a) apply the tax per litre accurately?
True
Was Question 2(a) generally answered poorly by candidates?
False
Which of the following accurately describes the answer that scored 2/4 marks for Question 1(a)?
It correctly shows a parallel shift to the left in supply and accurately applies the tax per litre, but the resultant tax incidence is labelled incorrectly.
What was the common mistake made by the minority of candidates in illustrating the shift for Question 1(a)?
They illustrated the shift as a parallel shift to the right in supply instead of to the left.
Which of the following accurately describes the majority of candidates' answers for Question 2(a)?
They were able to accurately answer the question.
Assess your knowledge of tax incidence and supply shifts with this quiz, which includes questions on drawing diagrams and applying concepts to specific scenarios.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
