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1.2.2 The economic problem
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Scarcity creates the economic problem

Scarcity creates the economic problem

Resources such as land, labour, capital and enterprise are scarce, meaning they are finite. Human wants are unlimited, so available resources cannot satisfy every want.

1.2.2 The economic problem Lesson

  1. GCSE
  2. /Economics
  3. /1.2.2 The economic problem

Step-by-step lessons on OCR GCSE Economics 1.2.2 The economic problem. 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