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The Fundamental Economic Problem

The Fundamental Economic Problem

Scarcity is the fundamental economic problem: resources are finite, but human wants are effectively unlimited. This means that no consumer, firm, or government can have everything it wants.

1.1.4 Scarcity, choice and the allocation of resources Lesson

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

Step-by-step lessons on AQA A Level Economics 1.1.4 Scarcity, choice and the allocation of resources. Each one builds up to exam-style questions. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.

Lessons