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1.1 Economic methodology and the economic problem

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Question 55

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

A

Its consumption or production involves no opportunity cost.

B

It is provided by the public sector because it is a non-excludable merit good.

C

It is a good whose price elasticity of supply is perfectly inelastic.

D

It generates zero external costs or external benefits during consumption.

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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