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1.2 The basic economic problem

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Question 23

A local authority uses an empty site for a library instead of a sports centre. What is the opportunity cost?

[1]
A

The wages paid to library staff

B

The value of the sports centre that was not built

C

The price charged to borrow books

D

The total cost of the land and building

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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