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
1. Basic economic ideas a...
1.2. Economic methodology

positive and normative statements (the distinction between facts and value judgements)

7. The price system and t...
7.4. Private costs and benefits, ex...

use of costs and benefits in analysing decisions (knowledge of net present value is not required)