Economics 9708/12 — February/March 2017
Cambridge AS Level · AS Level Multiple Choice · answer key with instant marking and worked solutions
Topics Market Equilibrium and the Price Mechanism · Demand and Supply · Aggregate Demand and Aggregate Supply · Exchange Rates · Factors of Production · Elasticities of Demand · +13 more
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The diagram is from a chapter on ‘The Economic Problem’ in an Economics textbook. It should contain the terms opportunity cost, scarcity and choice in the order that identifies the economic problem.
What is the correct order for the terms to appear in the diagram?
Options
A choice → opportunity cost → scarcity
B choice → scarcity → opportunity cost
C scarcity → choice → opportunity cost
D scarcity → opportunity cost → choice
The rest of this paper
29 more questions- Q2Factors of Production1M
- Q3Production Possibility Curves1M
- Q4Classification of Goods and Services1M
- Q5Market Equilibrium and the Price Mechanism · Demand and Supply1M
- Q6Factors of Production · Demand and Supply1M
- Q7Elasticities of Demand1M
- Q8Price Elasticity of Supply1M
- Q9Demand and Supply · Market Equilibrium and the Price Mechanism1M
- Q10Demand and Supply · Market Equilibrium and the Price Mechanism1M
- Q11Demand and Supply · Market Equilibrium and the Price Mechanism1M
- Q12Market Equilibrium and the Price Mechanism1M
- Q13Consumer and Producer Surplus1M
- Q14Market Equilibrium and the Price Mechanism1M
- Q15Methods of Government Intervention in Markets1M
- Q16Income and Wealth Inequality1M
- Q17Methods of Government Intervention in Markets1M
- Q18Economic Systems1M
- Q19Aggregate Demand and Aggregate Supply1M
- Q20Aggregate Demand and Aggregate Supply1M
- Q21Price Stability1M
- Q22Balance of Payments1M
- Q23Exchange Rates · Balance of Payments1M
- Q24Exchange Rates1M
- Q25International Trade and Comparative Advantage1M
- Q26Protectionism1M
- Q27Protectionism1M
- Q28Monetary Policy1M
- Q29Exchange Rates · Elasticities of Demand1M
- Q30Aggregate Demand and Aggregate Supply1M