Q5 of 2281_s22_qp_12

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

2. The allocation of reso...

2.9. Market economic system

Advantages and disadvantages of the market economic system.

2. The allocation of reso...

2.11. Mixed economic system

The effectiveness of government intervention in overcoming the drawbacks of a market economic system.

2. The allocation of reso...

2.10. Market failure

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