What is an example of an external cost?

2281_w11_qp_11

MCQ

2011

Paper 1, Variant 1

View

Every business organisation faces the problem of satisfying wants. What is the reason why wants are not fully satisfied?

2281_w11_qp_12

MCQ

2011

Paper 1, Variant 2

View

What is an example of an external cost?

2281_w11_qp_12

MCQ

2011

Paper 1, Variant 2

View

Every business organisation faces the problem of satisfying wants. What is the reason why wants are not fully satisfied?

2281_w11_qp_13

MCQ

2011

Paper 1, Variant 3

View

What is an example of an external cost?

2281_w11_qp_13

MCQ

2011

Paper 1, Variant 3

View

A country with a low income per head discovers large quantities of oil, which eventually makes everybody better off. Why is the basic economic problem of scarcity not solved by this discovery?

2281_w12_qp_12

MCQ

2012

Paper 1, Variant 2

View

An international company drilled for oil in deep water and caused a major oil leakage, which affected the jobs of the fishing community. The government ordered the company to close the well and to stop drilling in the area. What are the external costs of this incident?

2281_w12_qp_12

MCQ

2012

Paper 1, Variant 2

View

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

2281_w13_qp_13

MCQ

2013

Paper 1, Variant 3

View

Economics textbooks often start by identifying the existence of the basic economic problem. What is it that makes this problem ‘basic’?

2281_w14_qp_12

MCQ

2014

Paper 1, Variant 2

View

The government of a prosperous country announced that it would offer free food to its citizens for a year. What would be the effect of this measure?

2281_w15_qp_12

MCQ

2015

Paper 1, Variant 2

View

---