CSEC Economics · May/June 2015 · Paper 2 · Question 8(b)(ii)
Define EACH of the following terms:
Want
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- 8(a)Identify the central problem in economics.[1 mark]
- 8(b)(i)Need[2 marks]
- 8(b)(iii)Opportunity cost[2 marks]
- 8(c)Explain TWO economic factors that will influence the decision the student makes.[8 marks]
- 8(d)(i)Decreasing opportunity costs[3 marks]
- 8(d)(ii)An efficient point[1 mark]
- 8(d)(iii)An unattainable point[1 mark]
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