O-LevelEconomicsThe allocation of resources2281/11 · May/June 2017 · Q101 Mark

Individuals produced their own goods. They then decided to specialise. They formed a group and offered their skills to each other but without the use of money. What is not likely to be the result for the group?

AIt will enjoy a rise in its material standard of living.

BIt will have a wider choice of goods and services.

CIt will need to use a system of barter.

DIt will save time in obtaining goods and services.

✓ Correct answer

D: It will save time in obtaining goods and services.

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Topic: The allocation of resources, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2017 Paper 1 Variant 1, question 10.

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