8% of total government spending in Singapore is allocated to expanding public transport networks, and therefore other areas of the public sector have experienced reduced funding as a result, including coastal defence infrastructure despite the rising threat of sea-level rise.
With reference to the information above, explain what is meant by 'opportunity cost'.
17 exam-style questions on Edexcel A A Level Economics 1.1.3 The economic problem. Each one has a worked solution and a mark scheme showing where the marks go.