O-LevelEconomicsEconomic development2281/12 · May/June 2016 · Q211 Mark

A country has a very high Gross Domestic Product and a small population but has a low standard of living. What may be the cause of this low standard of living?

AThere is a high inequality of income distribution and a high provision of merit goods.

BThere is a high inequality of income distribution and a limited provision of merit goods.

CThere is equality of income distribution and a high provision of merit goods.

DThere is equality of income distribution and a low provision of merit goods.

✓ Correct answer

B: There is a high inequality of income distribution and a limited provision of merit goods.

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Topic: Economic development, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2016 Paper 1 Variant 2, question 21.

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