O-LevelEconomicsThe basic economic problem2281/12 · Oct/Nov 2015 · Q31 Mark

The diagram shows a production possibility curve for an economy that can produce rice or electronic equipment. The economy is at point Q. A recession causes unemployment in the electronics industries. At which point will the economy be in the diagram?

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✓ Correct answer

A: A

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Topic: The basic economic problem, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2015 Paper 1 Variant 2, question 3.

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