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Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost

Economics starts with scarcity: resources are limited, but wants are unlimited. The allocation of resources is how land, labour, capital and enterprise are distributed between competing uses, and how final goods and services are distributed between people.

The allocation of resources Lesson

  1. A Level
  2. /Economics
  3. /The allocation of resources

Step-by-step lessons on OCR A Level Economics 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