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1.2 The basic economic problem

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Question 9

Cod in the sea around Northport have become scarce. To protect them, the government plans to pay fishing businesses a fixed sum for every day one of their boats stays tied up in harbour.

Explain how this payment scheme could lead fishing businesses to catch less of the scarce cod.

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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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