Volunteer work, illegal trade, and homemaker services (no market transaction).
To excel in the HKCEE Economics examination, students should:
Only goods and services produced during the specific exam year count.
: Identify who is making the choice.
In Paper 2 (the Multiple Choice section), the HKEAA frequently designs scenarios to test whether a student can track changes in opportunity cost. These questions usually present a change in circumstances and ask how it affects a consumer or producer's cost. Case Study Matrix: Evaluating Cost Fluctuations hkcee 2010 econ paper 2 q2
In Economics MC, options with words like "always" or "never" are often traps.
This question beautifully illustrates three core principles:
A good answer to this question would have:
For further study on the 2010 paper and similar HKCEE materials, you can refer to the following: Answer Keys: Full compilations for 1990–2015 are available on Video Explanations: Educators like Herman Yeung provide detailed walkthroughs of HKCEE past papers. Topical Guides: Sites like Outliers Economics Volunteer work, illegal trade, and homemaker services (no
Central planners cannot gather all the dispersed information about consumer preferences and resource availability. This results in misallocation of resources—producing the wrong goods or using inefficient methods—leading to shortages or surpluses.
Note: Since the exact HKCEE 2010 Paper 2 Q2 is copyrighted, we reconstruct it based on common examiner reports and typical data. The core parameters are as follows:
No, it is not effective. The price floor equals the equilibrium price, so the market mechanism naturally achieves $68. There is no excess supply or demand. Government intervention changes nothing.
Economics Level: HKCEE (Secondary 5) Paper: Paper 2 (Multiple Choice Questions) Topic: Demand and Supply / Market Intervention In Paper 2 (the Multiple Choice section), the
To help you prepare for similar questions in the future, follow these three steps to breakdown "Opportunity Cost" problems:
The government must either buy the surplus (10 tonnes) or restrict production to avoid waste.
Equilibrium price is the price at which quantity demanded equals quantity supplied. There is no tendency to change.
The question typically asks about a foundational concept such as or the nature of economic goods , which were staple topics for the second question in Paper 2 (Multiple Choice) during that era.