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Needs, wants and economic activity

Needs, wants and economic activity

A comparison showing needs as essential and wants as desirable but non-essential

1.1 Economic foundations Lesson

  1. GCSE
  2. /Economics
  3. /1.1 Economic foundations

Step-by-step lessons on AQA GCSE Economics 1.1 Economic foundations, covering 1.1.1a Needs and wants, 1.1.1b The central purpose of economic activity, 1.1.1c Key economic decisions, 1.1.1d The main economic groups, 1.1.2a The nature of an economic resource, 1.1.2b The four factors of production, 1.1.3a The basic economic problem and making choices, and 1.1.3b Opportunity cost. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons