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Cambridge IGCSE Business Studies practice

What is the definition of scarcity?

Try the question first, then check the answer and practise the same topic again.

Show answerBusiness activity revisionRevise the key idea

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MCQ

Type

cambridge_mcq

Style

Topic

Business activity

Exam-style question

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What is the definition of scarcity?.

  1. A.Unlimited resources to meet wants
  2. B.Limited resources to meet unlimited wants
  3. C.A type of business objective
  4. D.A method of value addition

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Paper 1 structured question: Business activity

Paper 1Short Answer and Data Response1 marks

Description

Business Activities Overview

Business activities are essential for fulfilling human needs and wants. They involve making choices due to scarcity and understanding opportunity costs.

  1. a

    State Define the term 'scarcity'.

    Aim for approximately 1 distinct marking point.

    [1]