Question 5
Question 5 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

Including examples of how it works in a variety of different countries.

With respect to public goods, merit and demerit goods, external costs and external benefits, abuse of monopoly power and factor immobility.

In terms of primary/secondary/tertiary sectors and private/public sector, and the relative size of firms.