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1.2 The basic economic problem

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Question 12

A pottery studio has one kiln slot on Friday and can fire only one batch in it. The owner's preferences, from most preferred to least preferred, are: a batch of bowls, a batch of mugs, a batch of tiles. The owner uses the slot to fire the batch of bowls. What is the opportunity cost of this choice?

[1]
A

a batch of bowls

B

a batch of mugs and a batch of tiles

C

a batch of mugs

D

a batch of tiles

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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