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Economics cover artwork
  1. A Level
  3. Economics AQA

Economics

Economics cover artwork
  1. A Level
  3. Economics AQA
  5. 1.1.4 Scarcity, choice and the allocation of resources

1.1.4 Scarcity, choice and the allocation of resources

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Revise AQA A Level Economics 1.1.4 Scarcity, choice and the allocation of resources with the question bank, lessons, revision guides, and flashcards.

The fundamental economic problem is scarcity and that it results from limited resources and unlimited wants. • Scarcity means that choices have to be made about how scarce resources are allocated between different uses. • Choices have an opportunity cost.

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