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Economics · Oct / Nov 2023 · Paper 12 · Question 1

2281The nature of the basic economic problem

Which statement is correct?

  1. AEconomic goods are not scarce.
  2. BEconomic goods have no opportunity cost.
  3. CFree goods are scarce.
  4. DFree goods have no opportunity cost.

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Correct answer: D. Free goods have no opportunity cost.

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