Economics 9708/12 — February/March 2016
Cambridge AS Level · AS Level Multiple Choice · answer key with instant marking and worked solutions
Topics Methods of Government Intervention in Markets · Elasticities of Demand · Scarcity, Choice and Opportunity Cost · Market Equilibrium and the Price Mechanism · Income and Wealth Inequality · Price Stability · +13 more
Tap an option under each question to check it — your score builds as you go.
An individual has an appointment with his bank manager.
He has a choice between travelling to the appointment by car, or leaving the car at home and travelling by bus and then by train. The costs of the journey are given below.
| $ | |
|---|---|
| bus fare | 2 |
| train fare | 3 |
| car parking charge | 4 |
| petrol | 2 |
| car wear and tear costs | 1 |
Given this information, what is the opportunity cost to the individual of travelling by car rather than by bus and train?
Options
A $2
B $4
C $7
D $12
The rest of this paper
29 more questions- Q2Scarcity, Choice and Opportunity Cost1M
- Q3Production Possibility Curves1M
- Q4Classification of Goods and Services1M
- Q5Demand and Supply1M
- Q6Elasticities of Demand1M
- Q7Elasticities of Demand1M
- Q8Elasticities of Demand1M
- Q9Price Elasticity of Supply1M
- Q10Market Equilibrium and the Price Mechanism1M
- Q11Methods of Government Intervention in Markets1M
- Q12Market Equilibrium and the Price Mechanism1M
- Q13Consumer and Producer Surplus1M
- Q14Income and Wealth Inequality1M
- Q15Methods of Government Intervention in Markets1M
- Q16Income and Wealth Inequality1M
- Q17Methods of Government Intervention in Markets1M
- Q18Methods of Government Intervention in Markets1M
- Q19Aggregate Demand and Aggregate Supply1M
- Q20National Income Statistics1M
- Q21Price Stability1M
- Q22Balance of Payments1M
- Q23Exchange Rates1M
- Q24Exchange Rates1M
- Q25International Trade and Comparative Advantage1M
- Q26International Trade and Comparative Advantage1M
- Q27Protectionism1M
- Q28Fiscal Policy1M
- Q29Balance of Payments1M
- Q30Price Stability · Fiscal Policy · Monetary Policy1M