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Economics Unit 1.3 The Economic Problem

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Study Level: 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: 13
Written in: 2022/2023
Type: Presentation
Person: Unknown

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economics
the economic problem

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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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Economics Unit 1.3 The Economic Problem

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