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1.1.2 need to make choices at all levels (individuals, firms, governments)
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Scarcity Creates Choice

Scarcity Creates Choice

Scarcity means that wants exceed the resources available. Income, time, labour, machines, land and tax revenue are limited, so they cannot satisfy every want at once.

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

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

Step-by-step lessons on CIE Intl A Level Economics 1.1.2 need to make choices at all levels (individuals, firms, governments). Each one builds up to exam-style questions.

Lessons