Hkcee 2010 Econ Paper 2 Q2 [repack] Jun 2026

To an outsider, this was just a Friday night. To an economist, Leo was facing the fundamental problem of . His time was finite, but his desires were not.

Do not sum the values of all rejected options. The marking scheme will award zero marks for combined totals.

A common trap in HKCEE questions is double-counting. GDP only includes the value of .

Provide a specific example (e.g., property prices/rents rising). State that the opportunity cost remains unchanged. Explain that dividends are part of the option, not the hkcee 2010 econ paper 2 q2

To answer this question, students were expected to:

┌──────────────────────────────┐ │ Question 2 Variations │ └──────────────┬───────────────┘ │ ┌───────────────────────┼───────────────────────┐ ▼ ▼ ▼ ┌──────────────────┐ ┌──────────────────┐ ┌──────────────────┐ │ Time vs. Money │ │ Expected Value │ │ Sunk Cost Trap │ │ Allocations │ │ Shifts │ │ (Past Outlays) │ └──────────────────┘ └──────────────────┘ └──────────────────┘ 1. Time Allocation vs. Money Expenditure

: If you have options A, B, and C, and you choose A, your opportunity cost is not B plus C. It is whichever option (B or C) had the higher value to you. To an outsider, this was just a Friday night

is the correct choice because it aligns with the standard economic definition of opportunity cost or choice under scarcity.

Workers do not need to switch between different tasks (e.g., moving from the dressing room to the cash register). This saves time previously lost to switching tools or locations. (Alternative: Selection according to ability) CSEC June 2010 - Economics - Paper 02 | PDF - Scribd

To provide a focused analysis, we'll reconstruct the question based on the official HKCEE Economics syllabus, which was very likely the topic that year: . Do not sum the values of all rejected options

While the specific text of the 2010 question is often guarded by copyright, it traditionally falls under the syllabus topic of Scarcity and Choice Opportunity Cost

The value of the "next best thing" you give up.

The opportunity cost of making a choice is the highest-valued option forgone .