Edexcel IGCSE Economics 1.1.1.a scarcity
Practise scarcity questions by classifying needs and wants, then explaining why finite resources force choices in short-answer contexts.
- Syllabus
- First assessment 2019
- Course
- Economics 4EC1
Exam points
- Classify examples such as shelter or smartphones as economic needs or wants.
- Explain how unlimited wants and finite resources create scarcity and choice.
1.1.1.a Scarcity, finite resources and choice question 1
[Maximum number: 2]
Describe one reason why infinite wants lead to scarcity.
A01 2 marks
Award 1 mark for reference to the reason and 1 mark for development of the reason
There are finite/limited resources (1) therefore demand for resources is greater than the supply of them (1)
Accept any other appropriate response.
(2)
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