A-LevelEconomicsBasic Economic Ideas and Resource AllocationOct/Nov 2013Paper 1 Q121 Mark
A consumer needed a new camera and a new armchair. She was prepared to spend $500 on one item. She discovered that the camera cost $450 and the armchair $500. She bought the camera. What was her opportunity cost and her consumer surplus? [Table 12.1]
Athe armchair, $50
Bthe armchair, $500
C$50, $450
D$450, $50
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The correct answer is A. This question tests the candidate's understanding of basic economic ideas and resource allocation within the Economicssyllabus. The examiner's mark scheme requires...
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Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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