Question 6
Question 6 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...
1.1. The nature of the economic pro...

Definition and examples of the economic problem in the contexts of: consumers; workers; producers; and governments.

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.