Igcse economics Study guides, Class notes & Summaries
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![CIE IGCSE Economics || with 100% Error-free Answers.](/docpics/5479696/66579175a0ff8_5479696_121_171.jpeg)
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CIE IGCSE Economics || with 100% Error-free Answers.
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what is the basic economic problem correct answers how to allocate resources to satisfy unlimited needs and wants 
(scarcity) 
 
what is the chain of production correct answers describes how businesses from the primary, secondary and tertiary sectors work interdependently to make a product and sell it to the final customer 
 
what are Economic Agents correct answers households (private individuals in society), firms that operate in the private sector of an economy and the government (the public ...
![Complete CIE IGCSE 0987/0455 Economics Flashcards](/docpics/3150773/64c4f62ad9467_3150773_121_171.jpeg)
![Complete CIE IGCSE 0987/0455 Economics Flashcards](https://media.s-bol.com/BBo5nYGWrORQ/550x691.jpg)
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Complete CIE IGCSE 0987/0455 Economics Flashcards
- Summary • 25 pages • 2023
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This set of flashcards includes every detail and point you would use in most (if not all) Paper 2 Structured Questions in the CIE IGCSE 0987/0455 specification. 
Through the 2 years of studying CIE IGCSE Economics in my school, I have compiled all of my lesson notes, online materials, further research, and exam mark schemes into this single file. 
This set of notes offered me great assistance to fortunately achieve a grade 9 in Economics and the Top of Economics award in my year in my school. ...
![IGCSE Economics 0455 Notes (Chapter 1-2) | The Basis Economic Problem](/docpics/63b9c31f66c79_2232665.jpg)
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IGCSE Economics 0455 Notes (Chapter 1-2) | The Basis Economic Problem
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IGCSE Economics 0455 Notes (Chapter 1-2) | The Basis Economic Problem. 
Need ⇒ goods or services necessary for survival 
Want ⇒ goods or services NOT necessary for survival 
Finite resources ⇒ resources that will eventually run out 
Renewable resources ⇒ resources that can be replaced as they are used to produce 
goods or services 
The economic problem ⇒ limited resources and unlimited wants which leads to a 
problem called scarcity 
Scarcity ⇒ an economic problem where the resources...
![CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023](/docpics/63b9c225a166e_2232653.jpg)
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023. The Basic Economic 
Problem 
1.1. Economic Problem 
There are too few productive resources to make all the 
goods and services that consumers need and want. 
Unlimited wants and limited resources 
Scarcity of resources is the basic economic problem 
Types of goods 
Economic goods: A good or service that has a degree of 
scarcity and therefore an opportunity cost. 
Free goods: A good or service that is not scarce and is 
available in abundance. F...
![IGCSE Economics Questions with complete Answers 2024](/docpics/4745328/65f375b92de23_4745328_121_171.jpeg)
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IGCSE Economics Questions with complete Answers 2024
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IGCSE Economics
![IGCSE Economics 0455 Notes (Chapter 1-2) For 2023](/docpics/63b9372860a74_2230984.jpg)
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IGCSE Economics 0455 Notes (Chapter 1-2) For 2023
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IGCSE Economics 0455 Notes (Chapter 1-2) For 2023. Need ⇒ goods or services necessary for survival 
Want ⇒ goods or services NOT necessary for survival 
Finite resources ⇒ resources that will eventually run out 
Renewable resources ⇒ resources that can be replaced as they are used to produce 
goods or services 
The economic problem ⇒ limited resources and unlimited wants which leads to a 
problem called scarcity 
Scarcity ⇒ an economic problem where the resources are not enough to sa...
![IGCSE Economics Questions And Answers 2024.](/docpics/5180944/6634f482915a5_5180944_121_171.jpeg)
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IGCSE Economics Questions And Answers 2024.
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IGCSE Economics Questions And Answers 2024. 
 
 
Definition of opportunity cost - CORRECT ANSWER the cost of the next best opportunity forgone 
 
The effects of opportunity cost on workers - CORRECT ANSWER specialization 
 
The production possibility curve represents - CORRECT ANSWER the maximum combination of products that can be produced in an economy 
 
How can a country be on its PPC? - CORRECT ANSWER All resources are used; there is efficiency (in the use of resources) 
 
A movement along t...
![IGCSE Economics |Graded A+| #Latest Study Guide](/docpics/5316318/664536446649c_5316318_121_171.jpeg)
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IGCSE Economics |Graded A+| #Latest Study Guide
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IGCSE Economics |Graded A+| #Latest 
Study Guide 
Opportunity cost *Ans* A cost of choosing one thing over the next best alternative. 
The economic problem *Ans* The idea that resources are scare and wants are unlimited 
Economy *Ans* Where people produce goods and services. 
Market *Ans* Where a group of people willing to exchange goods and services meet. 
Perfect market *Ans* Neither Consumer/producer solely influence the price charged for 
goods and services 
Imperfect market *Ans* a powerf...
![CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023](/docpics/63b724cc6f0a5_2226288.jpg)
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023
- Summary • 18 pages • 2023
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CAIE IGCSE ECONOMICS (0455) SUMMARIZED NOTES 2023. The Basic Economic 
Problem 
1.1. Economic Problem 
There are too few productive resources to make all the 
goods and services that consumers need and want. 
Unlimited wants and limited resources 
Scarcity of resources is the basic economic problem 
Types of goods 
Economic goods: A good or service that has a degree of 
scarcity and therefore an opportunity cost. 
Free goods: A good or service that is not scarce and is 
available in abundance. F...
![Latest CIE IGCSE Economics Final Exam with 100% Correct Answers](/docpics/5316315/6645360597c21_5316315_121_171.jpeg)
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Latest CIE IGCSE Economics Final Exam with 100% Correct Answers
- Exam (elaborations) • 15 pages • 2024
- Available in package deal
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- $9.49
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Latest CIE IGCSE Economics Final Exam 
with 100% Correct Answers 
what is the basic economic problem *Ans* how to allocate resources to satisfy unlimited 
needs and wants 
(scarcity) 
what is the chain of production *Ans* describes how businesses from the primary, 
secondary and tertiary sectors work interdependently to make a product and sell it to the 
final customer 
what are Economic Agents *Ans* households (private individuals in society), firms that 
operate in the private sector of an...
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