Question 2
Question 2 of 30
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No letter options?
Older MCQs might not have the typical A, B, C, D choices. They have choices 1, 2, 3, and a combination of them is the answer. Below is the key that maps such combinations to the answer.
A 1, 2 and 3 are correct
B 1 and 2 only are correct
C 2 and 3 only are correct
D 1 only is correct
Topics Tested
1. The basic economic pro...
1.2. The factors of production

Definitions and examples of land, labour, capital and enterprise. Examples of the nature of each factor of production.

2. The allocation of reso...
2.2. The role of markets in allocat...

Establishing that the economic problem creates three key questions about determining resource allocation – what to produce, how, and for whom.