Question 12
Question 12 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...
2.4. The interaction of demand and...

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

3. Government microeconom...
3.1. Reasons for government interve...

addressing the over-consumption of demerit goods and the under-consumption of merit goods

7. The price system and t...
7.8. Differing objectives and polic...

price discrimination – first, second and third degree: conditions for effective price discrimination, consequences of price discrimination