Practice Questions · 9708

Basic Economic Ideas and Resource Allocation

Original StepsToConquer questions written in CAIE style. These are practice questions, not past Cambridge examination questions.

Question 11 marks

Not finished

A council uses a fixed plot of land for a free public library instead of the highest-valued alternative, a health clinic. What is the opportunity $cost$ ?

A. The wages paid to library staff
$B$ . The value of the health clinic forgone
$C$ . The total construction $cost$ of the library
$D$ . The number of books bought

Your answer

Select one answer1 mark

Predict the economic result before testing each option against the full causal chain.

Practice Questions · 9708

Basic Economic Ideas and Resource Allocation

Original StepsToConquer questions written in CAIE style. These are practice questions, not past Cambridge examination questions.

Question 11 marks

Not finished

A council uses a fixed plot of land for a free public library instead of the highest-valued alternative, a health clinic. What is the opportunity $cost$ ?

A. The wages paid to library staff
$B$ . The value of the health clinic forgone
$C$ . The total construction $cost$ of the library
$D$ . The number of books bought

Your answer

Select one answer1 mark

Predict the economic result before testing each option against the full causal chain.