Subsection 1.1. The nature of the economic problem for Economics, IGCSE - revisedeck

1.1. The nature of the economic problem

A subsection of Economics, 0455, through 1. The basic economic problem

Listing 10 of 58 questions

A government needs to decide how much to fine firms for causing the external costs of air pollution in industrial areas. Which external cost would be the most difficult to measure in monetary terms?

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MCQ

2017

Paper 1, Variant 1

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A major highway has been built at a cost of US$175 million between Nairobi, Kenya and its suburbs. This reduces travel time and increases safety, but there are environmental problems for small enterprises along its route. Who bears the external costs of this project?

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MCQ

2018

Paper 1, Variant 1

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What is the basic economic problem?

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MCQ

2020

Paper 1, Variant 1

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To help reduce the price of oil, new supplies are needed. However, objectors oppose exploration of new sites because of the environmental damage it may cause. Why is this statement an example of the basic economic problem?

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MCQ

2021

Paper 1, Variant 1

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To help reduce the price of oil, new supplies are needed. However, objectors oppose exploration of new sites because of the environmental damage it may cause. Why is this statement an example of the basic economic problem?

0455_w21_qp_12

MCQ

2021

Paper 1, Variant 2

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To help reduce the price of oil, new supplies are needed. However, objectors oppose exploration of new sites because of the environmental damage it may cause. Why is this statement an example of the basic economic problem?

0455_w21_qp_13

MCQ

2021

Paper 1, Variant 3

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A consumer has $10 to spend. A meal costs $9 and a drink costs $5. What would describe the situation if the consumer did not have enough money to purchase both the meal and the drink?

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MCQ

2023

Paper 1, Variant 3

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In a mixed economy, a government provides some goods that markets cannot. What is the name of these goods?

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MCQ

2024

Paper 1, Variant 2

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What does an economist mean by capital?

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MCQ

2012

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A government makes public transport free to try to reduce car use in a city. What might explain why people continue to use their own cars?

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MCQ

2013

Paper 1, Variant 2

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Questions Discovered

58