O-LevelEconomicsMicroeconomic decision makers2281/12 · Oct/Nov 2022 · Q111 Mark

Which statement about different income groups is correct?

AHigh-income groups do not need to borrow money.

BHigh-income groups save less money than low-income groups.

CLow-income groups find it easier to borrow than high-income groups.

DLow-income groups save a smaller percentage of their income than high-income groups.

✓ Correct answer

D: Low-income groups save a smaller percentage of their income than high-income groups.

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Topic: Microeconomic decision makers, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2022 Paper 1 Variant 2, question 11.

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