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1.1.4 Scarcity, choice and the allocation of resources

Why is scarcity the fundamental economic problem?

A

Resources are underused, but human wants are effectively unchanging.

B

Resources are finite, but human wants are effectively unlimited.

C

Resources are unequally distributed, but human wants are always identical.

D

Resources are unlimited, but human wants are effectively finite.

1.1.4 Scarcity, choice and the allocation of resources Flashcards

  1. A Level
  2. /Economics
  3. /1.1.4 Scarcity, choice and the allocation of resources

Flashcards for AQA A Level Economics 1.1.4 Scarcity, choice and the allocation of resources, covering the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3. 19 cards, matched to the AQA A Level Economics (7136) specification.