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.
An economic good is any good where the quantity demanded exceeds the quantity supplied at zero price.
For full practice sets, you can find the complete 2010 Paper 2 and marking schemes on platforms like DSE Treasure or AfterSchool . Hkcee Econ Past Paper - mchip.net hkcee 2010 econ paper 2 q2
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
If more than one person wants the same unit of a good, it is scarce. According to Herman Yeung's analysis , many candidates
Choosing an option that suggested a good becomes "free" because it is provided by the government.
To master this topic for DSE or historical review, focus on these criteria: Hkcee Econ Past Paper - mchip
The question likely involved a scenario where more people wanted a good than was available at no cost.