C
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
The HKEAA systematically includes specific distractors within Paper 2 options to catch underprepared students: Trap Category Examiner's Trick Correct Economic Realization Adding all forgone options together (e.g., "A + B"). Cost is only the single best alternative . Sunk Cost Fallacy hkcee 2010 econ paper 2 q2
The HKCEE 2010 Paper 2 Q2 is directly relevant to HKDSE Economics Topic 4 (Market Intervention) and Topic 5 (Efficiency). Modern analogs include:
It changes only if the value of the chosen option changes, or if the value of the next-best alternative changes. C For further study on the 2010 paper
: Students frequently add the values of all unchosen options together. Economics dictates that you can only experience one reality at a time; hence, opportunity cost is only the value of the single next-best option, never the sum of all remaining choices.
In a central planning system, production decisions are made by planners rather than price signals. Without profit incentives, workers and managers have less motivation to work efficiently or innovate, leading to lower productivity. Information/Knowledge Problem: Sunk Cost Fallacy The HKCEE 2010 Paper 2
Only goods and services produced during the specific exam year count.