The government spends £48 million connecting new energy storage facilities to the electricity network. It could instead spend the same amount upgrading technical college workshops.
What is the opportunity cost of the government’s decision?
More capacity to connect energy storage facilities to the network
The £48 million paid to connect the energy storage facilities
Lower costs for firms using the improved electricity network
A greater supply of workers with practical technical skills
121 exam-style questions on OCR GCSE Economics 3.7 Supply side policies, covering 3.7.1 What are supply side policies and 3.7.2 Costs and benefits of supply side policies. Each one has a worked solution and a mark scheme showing where the marks go.