Question 12
Question 12 of 40
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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
3. Microeconomic decision...
3.2. Households

Including income, the rate of interest and confidence – between different households and over time.

2. The allocation of reso...
2.3. Demand

The link between individual and market demand in terms of aggregation.

2. The allocation of reso...
2.10. Market failure

The implications of misallocation of resources in respect of the over consumption of demerit goods and goods with external costs, and the under consumption of merit goods and goods with external benefits.