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1.2 The basic economic problem

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Question 35

Why does the basic economic problem exist?

[1]
A

Resources are scarce while wants are unlimited

B

Producers always make too many goods

C

Consumers have identical wants

D

Governments own all resources

Markscheme

1.2 The basic economic problem Questions

  1. GCSE
  2. /Economics
  3. /1.2 The basic economic problem

77 exam-style questions on OCR GCSE Economics 1.2 The basic economic problem, covering 1.2.1 Scarce resources and unlimited wants, 1.2.2 The economic problem, 1.2.3 Opportunity cost, and 1.2.4 Costs and benefits of economic choices. Each one has a worked solution and a mark scheme showing where the marks go.

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