Skip to main content
A-LevelEconomicsThe price system and the microeconomy9708/12 · Feb/Mar 2021 · Q31 Mark

What distinguishes the very long run from the long run?

Athe ability to change resource allocation
Bthe ability to change the state of technology
Cthe absence of government market intervention
Dthe existence of variable factors of production

✓ Correct answer

B: the ability to change the state of technology

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill The price system and the microeconomy and see which topics are most likely to come up next.

Sign up free →

About this question

Topic
The price system and the microeconomy, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source
A-Level Economics, Feb/Mar 2021 Paper 1 Variant 2, question 3.

Questions and mark schemes are from past examination papers and remain the copyright of the exam board. How Oracle Prep builds its content

Related Economics questions

© 2026 Oracle Prep