Quelpr
1 markScarcity, Choice, and Opportunity Cost

CSEC Economics · May/June 2014 · Paper 2 · Question 1(a)

Table 1 shows production possibilities of sugar and bananas for Country X using all available resources.

State the name of the curve commonly used to represent the production combinations shown in Table 1.

This question uses a figure or table from the paper — you'll see it when you practise.

The mark scheme is shown once you've answered.

Practise this question

Other parts of this question

  1. 1(b)(i)State whether the opportunity cost is decreasing, increasing, or constant when moving from combination A through E in Table 1.[1 mark]
  2. 1(b)(ii)State the maximum amount of sugar that can be produced if 40 000 tons of bananas are produced.[1 mark]
  3. 1(b)(iii)State TWO factors that would cause the curve identified in (a) to shift inward.[2 marks]
  4. 1(c)(i)Determine whether Country X is operating efficiently or not if it produces 2 000 tons of sugar and 15 000 tons of bananas.[2 marks]
  5. 1(c)(ii)Determine whether Country X is operating efficiently or not if it produces 1 000 tons of sugar and 15 000 tons of bananas.[2 marks]
  6. 1(d)Explain TWO factors that should be considered before opening an internet cafe.[6 marks]

More practice: the rest of this paper · more Scarcity, Choice, and Opportunity Cost questions · all CSEC Economics past papers