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O-LevelEconomicsThe allocation of resources2281/11 · May/June 2013 · Q101 Mark

When is the market system not used to allocate resources?

AWhen a local firm persuades people to buy its products through advertising.
BWhen a local government fixes the price of rented accommodation.
CWhen a local shop has a monopoly in the area.
DWhen a local solicitor charges a different price for the same service to different people.

✓ Correct answer

B: When a local government fixes the price of rented accommodation.

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About this question

Topic
The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source
O-Level Economics, May/June 2013 Paper 1 Variant 1, question 10.

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