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Card 1 of 20

Why must every economy choose how to allocate resources?

A

Because prices are fixed, so producing everything people want is unprofitable.

B

Because human wants are finite, so producing everything people want is unnecessary.

C

Because resources are finite, so producing everything people want is impossible.

D

Because resources are unlimited, so producing everything people want is inefficient.

Card 1 of 20

1.1.3 The economic problem Flashcards

  1. A Level
  2. /Economics
  3. /1.1.3 The economic problem

20 flashcards on Edexcel A A Level Economics 1.1.3 The economic problem: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.

Flashcards