O-LevelEconomicsThe allocation of resources2281/11 · May/June 2015 · Q81 Mark
A large supermarket applied to build on land which was in an area of natural beauty. The local government allowed the building, even though the natural beauty of the area would be lost, because many jobs would be created and much needed income would be brought to the local community. Which economic ideas cannot be found in the above statement?
Aexternal cost and private enterprise
Bfree market and the conservation of resources
Copportunity cost and improved standards of living
Dpublic sector and external benefit
✓ Correct answer
B: free market and the conservation of resources
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