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1.2 The basic economic problem

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Question 2

A furniture maker can use its workshop for a run of bookcases, dining tables or desks. It ranks the bookcases first, the dining tables second and the desks third, then uses the workshop for bookcases. What is the opportunity cost of this choice?

[1]
A

The dining tables the workshop could have produced

B

The desks the workshop could have produced

C

The dining tables and the desks the workshop could have produced

D

The bookcases the workshop will produce

Markscheme

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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