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1.1 Scarcity

Syllabus
2026
Topic
1.1
Level
—

MOD-1.A—Define scarcity and economic resources

Define scarcity and economic resources.

  • Individuals and societies are forced to make choices because most resources are scarce.
  • Enduring understanding MOD-1: The production possibilities curve (PPC) model is used to demonstrate the full employment level of output and to illustrate changes in full employment.