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CAIE A-Level Economics AS 1.1.1 Scarcity Problem Questions

Practise explaining scarcity, finite resources, unlimited wants and the choices faced by economic decision makers using CAIE Economics AS questions.

Syllabus
2026–2028
Course
Economics 9708
Level
AS

Exam points

  • Explain the fundamental economic problem of scarcity: unlimited wants must be met with finite resources, requiring choices about resource allocation.

CAIE A-Level Economics AS 1.1.1 Scarcity Problem Questions question 1

[Maximum number: 1]

What is essential to eliminate scarcity?

A

the existence of sufficient resources to meet all needs and wants

B

producers consistently produce in excess of demand

C

the government has a surplus budget

D

there is equilibrium in all markets

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