Shops in a country can meet every order for cooking oil at current prices.
Which statement about scarcity is correct?
Scarcity still exists, because resources remain limited relative to people's wants.
Scarcity has ended, because shops can meet every order for cooking oil.
Scarcity has ended, because cooking oil has become a free good.
Scarcity still exists, because a shortage of cooking oil will soon return.
81 exam-style questions 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 has a worked solution and a mark scheme showing where the marks go.