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Card 1 of 25

Why can no individual, firm or economy have everything it wants?

A

Scarcity means wants exceed the resources available.

B

Specialisation means wants exceed the resources available.

C

Choice means wants exceed the resources available.

D

Opportunity cost means wants exceed the resources available.

Card 1 of 25

1.1.2 need to make choices at all levels (individuals, firms, governments) Flashcards

  1. Intl A Level
  2. /Economics
  3. /1.1.2 need to make choices at all levels (individuals, firms, governments)

25 flashcards on CIE Intl A Level Economics 1.1.2 need to make choices at all levels (individuals, firms, governments): the key terms and definitions you need to recall.

Flashcards