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O-LevelEconomicsThe basic economic problem2281/13 · Oct/Nov 2024 · Q11 Mark

What is the cause of the economic problem facing the global market for gold?

AConsumer wants for gold are limited.

BGold is a limited resource.

COnly governments can sell gold.

DThere is an unlimited supply of gold.

✓ Correct answer

B: Gold is a limited resource.

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About this question

Topic: The basic economic problem, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2024 Paper 1 Variant 3, question 1.

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