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Economics Unit 1.3 The Economic Problem

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Presentation on Economics unit 1.3 The economic problem

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PEARSON (PEARSON)
Module
Unit 1 - Introduction to markets and market failure









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A/AS Level
Examinator
PEARSON (PEARSON)
Subject
Economics A
Unit
Unit 1 - Introduction to markets and market failure
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Uploaded on
December 15, 2022
Number of pages
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Written in
2022/2023
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THEME 1:
INTRODUCTI
O N TO 1.1.3 The Economic Problem
MARKETS
AND
MARKET
FA I L U R E Why did you choose Economics as an A-Level?

What other options were there?

Why didn’t you choose Economics plus the
alternative options?




Edexcel 1.1 NATURE OF ECONOMICS
Economics

, 1.3 THE ECONOMIC PROBLEM




 a) The problem of scarcity – where there are
unlimited wants and finite resources
 b) The distinction between renewable and non-
renewable resources
 c) The importance of opportunity costs to economic
agents (consumers, producers and government)

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