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Scarcity and Choice

Scarcity and Choice

Scarcity is the fundamental economic problem: resources are finite, while human wants are effectively unlimited. No economy can produce every good and service that people want.

1.1.3 The economic problem Lesson

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

Step-by-step lessons on Edexcel A A Level Economics 1.1.3 The economic problem. 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