The Economic Problem and Markets · Microeconomics
Scarcity and Choice
Students examine the central economic problem of infinite wants versus finite resources and the concept of opportunity cost.
Key Questions
- 1What incentives are driving this behavior?
- 2Who benefits and who bears the costs?
- 3What trade-offs does this policy create?
National Curriculum Attainment Targets
A-Level: Economics - The Nature of EconomicsA-Level: Economics - Scarcity, Choice and Opportunity Cost
Year: Year 12
Subject: Economics
Unit: The Economic Problem and Markets
Period: Microeconomics
Suggested Methodologies
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