1 mark
Q1(a) Multiple choice picking the correct definition of opportunity cost.
Edexcel · 4EC1
Opportunity cost comes up in 9 questions across the Edexcel International GCSE past papers (4EC1), worth 20 marks between them. They run from 2020 to 2024 and appear on iGCSE Paper 1, iGCSE Paper 1R.
Tariffs run from 1 to 3 marks. The commonest instructions are Explain (4), Identify (MCQ) (2), Calculate (2). Specification points covered: 1.1.1.
Q1(a) Multiple choice picking the correct definition of opportunity cost.
Q1(h) Give one opportunity cost facing an individual who buys a television.
Q1(h) Give one opportunity cost facing a firm that buys a vehicle.
Q2(c) Give the meaning of opportunity cost.
Q4(a) Work out the opportunity cost of producing 40 more units of consumer goods.
Q1(a) Multiple choice naming the next best alternative forgone.
Q4(a) Work out the opportunity cost of producing 100 more units of capital goods.
Q1(h) Give one opportunity cost to the government of the decision described.
Q1(h) Give one opportunity cost to the firm of the decision described.
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