Question 13
Question 13 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 price system and t...
2.5. Consumer and producer surplus

causes of changes in consumer and producer surplus

2. The price system and t...
2.4. The interaction of demand and...

functions of price in resource allocation; rationing, signalling (transmission of preferences) and incentivising

7. The price system and t...
7.6. Different market structures

perfect competition and imperfect competition: monopoly, monopolistic competition, oligopoly, natural monopoly