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Exam (elaborations)
Cambridge IGCSE Business Studies Exam fully solved & updated 2025-2026(latest version verified for accuracy) (Questions + Answers) Solved 100% Correct!!
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---16October 20252025/2026A+
- Cambridge IGCSE Business Studies Exam fully solved & updated (latest version verified for accuracy) (Questions + Answers) Solved 100% Correct!!
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CodedNurse
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Exam (elaborations)
Cambridge IGCSE Business Studies Questions and Answers | Latest Update | 2024/2025 | Rated A+
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---39September 20242024/2025A+
- Cambridge IGCSE Business Studies 
Questions and Answers | Latest Update | 
 
2024/2025 | Rated A+ 
 
What is meant by a ‘need’? 
 A need is something essential for survival, such as food, water, or shelter. 
 
What is a ‘want’? 
 
 A want is something that is not essential for survival but is desired to improve the quality of 
life, like a smartphone or holiday. 
 
What is ‘opportunity cost’? 
 Opportunity cost is the benefit or value of the next best alternative that is given up whe...
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SterlingScores
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Exam (elaborations)
Cambridge IGCSE Business Studies Questions with Correct Answers.
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---15April 20232022/2023A+
- A Need Correct Answer A good or service essential for living. 
 
A want Correct Answer A good or service that people would like to have, but which is not essential for living. 
 
Economic problem Correct Answer Unlimited wants but limited resources - this creates scarcity. 
 
Scarcity Correct Answer Lack of sufficient products to satisfy total wants of population. 
 
Opportunity Costs Correct Answer The next best item given up by choosing another. 
 
Factors of production Correct Answer Resource...
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ExamsGuru