Question 2
Question 2 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
3. Microeconomic decision...
3.5. Firms

How internal and external economies and diseconomies of scale can affect a firm/industry as the scale of production changes.

2. The allocation of reso...
2.2. The role of markets in allocat...

Establishing that the economic problem creates three key questions about determining resource allocation – what to produce, how, and for whom.

3. Microeconomic decision...
3.6. Firms and production

Influences to include demand for the product, the price of different factors of production, their availability and their productivity.