Question 36
Question 36 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
1. The basic economic pro...
1.1. The nature of the economic pro...

Definition and examples of the economic problem in the contexts of: consumers; workers; producers; and governments.

1. The basic economic pro...
1.2. The factors of production

Definitions and examples of land, labour, capital and enterprise. Examples of the nature of each factor of production.

1. The basic economic pro...
1.3. Opportunity cost

Decisions made by consumers, workers, producers and governments when allocating their resources.