O-LevelEconomicsThe allocation of resources2281/12 · Oct/Nov 2020 · Q51 Mark
Why might a market economy fail to achieve the best use of scarce resources?
AConsumers may lack information about which good to buy.
BDemerit goods are underconsumed.
CPublic goods are overconsumed.
DMost resources are owned by the government.
✓ Correct answer
A: Consumers may lack information about which good to buy.
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill The allocation of resources and see which topics are most likely to come up next.
Sign up free →