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1.1 Economic methodology and the economic problem

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Question 63

Marcus has £150 to spend and is considering three options. He would rather spend the money on a concert ticket than a designer jacket, but he believes he would gain the most benefit from spending the £150 on a smartphone upgrade.

Assuming that he spends the money to gain the most benefit, what is the opportunity cost of his decision?

A

The concert ticket

B

The designer jacket

C

The smartphone upgrade

D

The concert ticket and the designer jacket

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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