Hkcee 2010 Econ Paper 2 Q2 'link' Access

If more than one person wants the same unit of a good, it is scarce.

The is a classic multiple-choice question focused on the foundational concept of Scarcity and Economic Goods . In the final years of the HKCEE (1978–2011) , examiners frequently used these early questions to test whether students could distinguish between "economic goods" and "free goods" based on the presence of opportunity cost. Question Overview hkcee 2010 econ paper 2 q2

To master this topic for DSE or historical review, focus on these criteria: If more than one person wants the same

Government-provided services (like public parks or roads) are still economic goods because they require taxpayer resources and land that have alternative uses. Revision Tips for Similar Questions Question Overview To master this topic for DSE

According to Herman Yeung's analysis , many candidates failed to recognize that "scarcity" doesn't mean a good is "rare"; it simply means there isn't enough to satisfy everyone's unlimited wants.

Based on official answer compilations like those from A1 Education and Scribd , the answer for .

An economic good is any good where the quantity demanded exceeds the quantity supplied at zero price.