Q13 of 2281_w07_qp_1

Question 13

Question 13 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

2. The allocation of reso...

2.6. Price changes

Demand and supply diagrams to be used to illustrate these changes in market conditions and their consequences for equilibrium price and sales.

4. Government and the mac...

4.6. Economic growth

How changes in total demand may increase the utilisation of resources and GDP – resulting in a movement from inside toward the PPC.

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.