Question 17
Question 17 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...
2.10. 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.

2. The allocation of reso...
2.11. Mixed economic system

The implications of other government microeconomic policy measures: regulation; privatisation and nationalisation; and direct provision of goods.