Economics 9708 · AS & A Level · 7.5

7.5 — practice question

Which statement regarding costs is correct?

  • AExternal cost only affects consumers.
  • BOpportunity cost affects all transactions.
  • CPrivate cost only affects producers.
  • DSocial cost affects all members of society equally.

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI