O-LevelEconomicsThe basic economic problem2281/11 · May/June 2012 · Q31 Mark

A student leaves school and decides to spend the next two years at a college to improve her qualifications. What is the opportunity cost to the student of taking this decision?

Athe cost of the course fees at the college

Bthe increase in job opportunities she will have as a result of her extra qualifications

Cthe lost production due to her not being in work

Dthe money she would have earned if she had been in work for the two years

✓ Correct answer

D: the money she would have earned if she had been in work for the two years

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Topic: The basic economic problem, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2012 Paper 1 Variant 1, question 3.

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