The diagram shows the choices for an individual between leisure and earnings. earnings $ hours of leisure per day X Y What is the opportunity cost to the individual of the extra earnings when moving from position X to position Y?

0455_w11_qp_13

MCQ

2011

Paper 1, Variant 3

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What necessarily happens when an external benefit exists?

0455_w12_qp_13

MCQ

2012

Paper 1, Variant 3

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Sam wrote a list of how he would prefer to spend his Saturday afternoon. first choice go to a cricket match second choice watch the annual town parade third choice go to the cinema fourth choice visit relatives Unfortunately a thunderstorm caused the cricket match and the town parade to be cancelled. Sam went to the cinema. What was the opportunity cost of going to the cinema?

0455_w13_qp_11

MCQ

2013

Paper 1, Variant 1

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Sam wrote a list of how he would prefer to spend his Saturday afternoon. first choice go to a cricket match second choice watch the annual town parade third choice go to the cinema fourth choice visit relatives Unfortunately a thunderstorm caused the cricket match and the town parade to be cancelled. Sam went to the cinema. What was the opportunity cost of going to the cinema?

0455_w13_qp_12

MCQ

2013

Paper 1, Variant 2

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A generating station was built to supply electricity to a rural village in Africa. What was the opportunity cost to the local economy?

0455_w13_qp_13

MCQ

2013

Paper 1, Variant 3

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In recent years more golf courses, which use large quantities of water, have opened in China. What may be the opportunity cost of this?

0455_w14_qp_13

MCQ

2014

Paper 1, Variant 3

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A power plant is built to provide electricity to a rural area in Botswana. What is the opportunity cost to the local economy of building the plant?

0455_w15_qp_11

MCQ

2015

Paper 1, Variant 1

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What could be the opportunity cost of a nuclear power station?

0455_w16_qp_12

MCQ

2016

Paper 1, Variant 2

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What could be the opportunity cost of a nuclear power station?

0455_w16_qp_13

MCQ

2016

Paper 1, Variant 3

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What might be an external cost of drinking alcohol?

0455_w17_qp_13

MCQ

2017

Paper 1, Variant 3

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