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1.1 Economic methodology and the economic problem

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Question 60

A deep-sea exploration and mining company is preparing to extract minerals from the ocean floor. Which of the following resources utilized in this operation is correctly classified as the economic resource 'Land'?

A

The sovereign maritime territory rights purchased from a coastal nation's government.

B

The polymetallic nodules rich in cobalt and nickel resting on the seabed.

C

The specialised robotic extraction vehicles designed to operate at extreme depths.

D

The £50 million\pounds 50 \text{ million}£50 million credit facility secured from an investment bank to fund the project.

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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