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1.2 The basic economic problem

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Question 8

A theatre company has one stage and a fixed production budget. It decides to stage a comedy rather than a musical, to build its sets by hand using a team of carpenters rather than buying sets cut by computer-controlled machines, and to allocate most tickets to local residents rather than visiting tourists. Which option correctly matches each decision to the economic question it answers?

[1]
A

Comedy rather than musical: for whom to produce; sets built by hand rather than by machine: how to produce; local residents rather than visiting tourists: what to produce

B

Comedy rather than musical: what to produce; sets built by hand rather than by machine: how to produce; local residents rather than visiting tourists: for whom to produce

C

Comedy rather than musical: what to produce; sets built by hand rather than by machine: for whom to produce; local residents rather than visiting tourists: how to produce

D

Comedy rather than musical: how to produce; sets built by hand rather than by machine: what to produce; local residents rather than visiting tourists: for whom to produce

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1.2 The basic economic problem Questions

  1. GCSE
  2. /Economics
  3. /1.2 The basic economic problem

77 exam-style questions on OCR GCSE Economics 1.2 The basic economic problem, covering 1.2.1 Scarce resources and unlimited wants, 1.2.2 The economic problem, 1.2.3 Opportunity cost, and 1.2.4 Costs and benefits of economic choices. Each one has a worked solution and a mark scheme showing where the marks go.

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