The Economic Problem and Markets · Microeconomics

Scarcity and Choice

Investigating the fundamental problem of finite resources vs infinite wants and the resulting need for trade-offs.

Key Questions

  1. 1What incentives are driving this behavior?
  2. 2Who benefits and who bears the costs?
  3. 3What trade-offs does this policy create?

National Curriculum Attainment Targets

GCSE: Economics - How Markets WorkGCSE: Economics - The Basic Economic Problem
Year: Year 10
Subject: Economics
Unit: The Economic Problem and Markets
Period: Microeconomics

Suggested Methodologies

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