Q1 of 0455_w23_qp_12

Question 1

Question 1 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...

The difference between economic goods and free goods.

1. The basic economic pro...

1.3. Opportunity cost

The influence of opportunity cost on decision making. Decisions made by consumers, workers, producers and governments when allocating their resources.