CAIE-Alevel-经济学-AS分类练习+解析 → 练习和解析(选择题 – 难): Scarcity, choice and opportunity cost

The fundamental economic question is how to meet unlimited wants with limited resources.

Which of the following options represents an example of limited resources?

Insufficient availability of consumer goods in local shops

Shortage of employment opportunities

Inadequate machinery to produce electrical goods

Lack of tax revenue to finance the construction of a school

What is the opportunity cost associated with an unemployed worker becoming employed?

The leisure time that they would have had if they had remained unemployed

The value of the goods and services they produce in their new job

The wages they receive for their work

There is no opportunity cost

In a fully employed economy, the necessary steel for building a new car-assembly plant is acquired by increasing the output of the domestic steel industry.

What is the opportunity cost of producing this steel?

The alternative benefits given up by diverting additional resources towards steel manufacturing

The alternative benefits forgone by increasing the capacity of the car industry

The alternative benefits that could have been obtained by using the steel for other purposes

None of the above, as there is no reduction in the steel supplied to other steel users

An individual has to meet his bank manager and has two options for travelling: either by car or by bus and train.

The table below shows the costs associated with each option.

What is the opportunity cost to the individual of travelling by car instead of by bus and train?

$2

$4

$7

$12

CAIE-Alevel-经济学-AS分类练习+解析

CAIE-Alevel-经济学-AS分类练习+解析

练习和解析(选择题 – 难): Scarcity, choice and opportunity cost

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