CAIE A-Level Economics 4.1.3 Market to basic prices
Practise converting national income measures between market and basic prices using tax and subsidy adjustments from data tables.
- Syllabus
- 2026–2028
- Course
- Economics 9708
- Level
- AS
Exam points
- calculate GDP at basic prices by subtracting taxes and adding subsidies
- calculate GDP at market prices by adding taxes and subtracting subsidies
- select the correct tax and subsidy adjustment when moving between price bases
4.1.3—Market to basic prices question 1
The table shows selected statistics for a country.
What is the value of gross domestic product at basic prices?
A
$ 500 bn
B
$ 550 bn
C
$ 650 bn
D
$ 700 bn
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