O-LevelEconomicsThe basic economic problem2281/11 · Oct/Nov 2011 · Q21 Mark

A university rejects 2000 qualified applicants who wish to study there. What factor of production could have caused the university to make this decision?

Ainfinite quantity of capital

Bscarcity of labour

Csurplus of land

Dunlimited supply of enterprise

✓ Correct answer

B: scarcity of labour

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Topic: The basic economic problem, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, Oct/Nov 2011 Paper 1 Variant 1, question 2.

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