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1.2 The basic economic problem

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Question 7

Mina has saved enough money to buy one item. She ranks the items she would like: first a pair of walking boots, second a cookery book and third a set of storage boxes. She buys the walking boots.

Mina's friend says that the opportunity cost of the walking boots is both the cookery book and the storage boxes.

Explain whether Mina's friend is correct.

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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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