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Edexcel Economics Theme 1.1 Nature of Economics Questions & Correct Answers/ Graded A+

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Economics : The study of the allocation of scarce resources. Economic Goods : Resources that are scarce. Productivity : The output per unit of input. The Economic Problem : Resources are scarce but wants are infinite. Scarcity : The world's resources are limited, there are only limited amounts of land, water, oil, food, etc.. Therefore, resources are scarce

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  • edexcel economics theme 11 nature of economics q
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