Economics 2281 · O Level · The nature of the economic problem

The nature of the economic problem — practice question

A small country, with oil as its sole export, chooses to cut the speed at which it removes its finite oil reserves quite substantially. What is the most likely explanation for this choice?

  • Ato improve the balance of payments in the following year
  • Bto increase current government income
  • Cto maintain future living standards
  • Dto raise the level of employment in the oil industry

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