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1.1 Economic methodology and the economic problem

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Question 22

Within any economic system, the ultimate purpose of resolving the fundamental economic problem of scarcity through the allocation of resources is to:

A

eliminate the opportunity cost associated with public sector decision-making.

B

ensure that the economy operates continuously at its maximum productive capacity.

C

maximise economic welfare by satisfying as many human needs and wants as possible.

D

generate financial surpluses for reinvestment by private-sector enterprises.

Markscheme

1.1 Economic methodology and the economic problem Questions

  1. A Level
  2. /Economics
  3. /1.1 Economic methodology and the economic problem

123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.

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