◈ Oracle PrepSign Up Free
A-LevelEconomicsBasic economic ideas and resource allocation9708/12 · Feb/Mar 2024 · Q51 Mark

What is the opportunity cost to a person of spending $20 on a new pair of sports shoes?

Aall the other things the person could have bought
Bthe cost of getting to the sports shop
Cthe current value of the person's old pair of shoes
Dthe next best thing that could have been bought with the $20

✓ Correct answer

D: the next best thing that could have been bought with the $20

Practise more questions on this topic

Oracle Prep sorts past-paper questions by topic, so you can drill Basic economic ideas and resource allocation and see which topics are most likely to come up next.

Sign up free →

About this question

Topic
Basic economic ideas and resource allocation, A-Level Economics (syllabus 9708). Multiple choice, 1 mark.
Source
A-Level Economics, Feb/Mar 2024 Paper 1 Variant 2, question 5.

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

Basic economic ideas and resource allocationFeb/Mar 20201m

Which change in the way resources are allocated in an economy is consistent with moving from a planned economy to a m…

Basic economic ideas and resource allocationFeb/Mar 20211m

An American family is choosing between four holiday destinations in Europe, each at the same price. The table shows t…

Basic economic ideas and resource allocationFeb/Mar 20211m

Which statement is a positive statement?

The price system and the microeconomyFeb/Mar 201720m

Explain the factors that are likely to make the supply of a product relatively price inelastic.

The macroeconomyFeb/Mar 201720m

Explain what is used as money in a modern economy. Consider how an increase in the money supply can cause inflation.

Government microeconomic interventionFeb/Mar 20171m

What might help achieve allocative efficiency?

← Browse all past-paper questions

© 2026 Oracle Prep