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1.1 Economic methodology and the economic problem

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Question 24

Which one of the following is a defining characteristic of an economic 'free good'?

A

It is provided by the government at zero price to prevent underconsumption.

B

It has an opportunity cost of zero when consumed or produced.

C

It has no external costs or benefits associated with its trade.

D

Its supply remains perfectly fixed regardless of physical limits.

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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