Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

Kenya grows some of the highest-quality teas, much of which is exported. Its climate is not as suitable for growing olives, but olives can be sold for a higher price per sack. What would certainly happen if a Kenyan company used some of the land on which tea is grown to plant olive trees?

  • AThe company would have a comparative advantage in trade.
  • BThe company’s revenue would increase.
  • CThere would be a decrease in the credit side of the trade in goods and services.
  • DThere would be an opportunity cost from lost tea production.

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