Economics Paper
w w w e tr .X m eP e ap
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
.c rs om
2281/12
May/June 2012 1 hour
ECONOMICS Paper 1 Multiple Choice Additional Materials: Multiple Choice Answer Sheet Soft clean eraser Soft pencil (type B or HB is recommended)
*3954581408*
READ THESE INSTRUCTIONS FIRST Write in soft pencil. Do not use staples, paper clips, highlighters, glue or correction fluid. Write your name, Centre number and candidate number on the Answer Sheet in the spaces provided unless this has been done for you. There are forty questions on this paper. Answer all questions. For each question there are four possible answers A, B, C and D. Choose the one you consider correct and record your choice in soft pencil on the separate Answer Sheet. Read the instructions on the Answer Sheet very carefully. Each correct answer will score one mark. A mark will not be deducted for a wrong answer. Any rough working should be done in this booklet.
This document consists of 12 printed pages.
IB12 06_2281_12/3RP © UCLES 2012
[Turn over
2 1 Economics is primarily concerned with A B C D 2 allocating scarce resources for unlimited wants. controlling unemployment and inflation. determining the level of government expenditure. studying how new wants and economic resources can be produced.
Which statement about the factors of production is correct? A B C D Capital includes factories and machinery but not roads and ports. Enterprise is more often found in the public sector rather than the private sector. Labour is the factor that takes risks and can become unemployed. Land is the natural factor that can be improved by human action.
3
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? A B C D the cost of the course fees at the college the increase in job opportunities she will
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Ordinary Level
.c rs om
2281/12
May/June 2012 1 hour
ECONOMICS Paper 1 Multiple Choice Additional Materials: Multiple Choice Answer Sheet Soft clean eraser Soft pencil (type B or HB is recommended)
*3954581408*
READ THESE INSTRUCTIONS FIRST Write in soft pencil. Do not use staples, paper clips, highlighters, glue or correction fluid. Write your name, Centre number and candidate number on the Answer Sheet in the spaces provided unless this has been done for you. There are forty questions on this paper. Answer all questions. For each question there are four possible answers A, B, C and D. Choose the one you consider correct and record your choice in soft pencil on the separate Answer Sheet. Read the instructions on the Answer Sheet very carefully. Each correct answer will score one mark. A mark will not be deducted for a wrong answer. Any rough working should be done in this booklet.
This document consists of 12 printed pages.
IB12 06_2281_12/3RP © UCLES 2012
[Turn over
2 1 Economics is primarily concerned with A B C D 2 allocating scarce resources for unlimited wants. controlling unemployment and inflation. determining the level of government expenditure. studying how new wants and economic resources can be produced.
Which statement about the factors of production is correct? A B C D Capital includes factories and machinery but not roads and ports. Enterprise is more often found in the public sector rather than the private sector. Labour is the factor that takes risks and can become unemployed. Land is the natural factor that can be improved by human action.
3
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? A B C D the cost of the course fees at the college the increase in job opportunities she will