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1.1.2 The nature and purpose of economic activity
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Scarcity and Economic Activity

Scarcity and Economic Activity

Diagram showing scarcity leading to economic activity and the three economic questions

Economic activity is the production of goods and services to satisfy people's needs and wants. Its purpose is to transform scarce resources into output that improves people's welfare.

1.1.2 The nature and purpose of economic activity Lesson

  1. A Level
  2. /Economics
  3. /1.1.2 The nature and purpose of economic activity

Step-by-step lessons covering AQA A Level Economics 1.1.2 The nature and purpose of economic activity for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.