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Cambridge IGCSE Economics practice

Paper 2 structured question: The role of markets in allocating resources

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2

Paper

4

Marks

Topic

The role of markets in allocating resources

Exam-style question

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Paper 2Structured Questions4 marks

Decision-making in resource allocation

Description

Resource Allocation

Scarcity necessitates choices about resource allocation, leading to fundamental economic questions.

  1. a

    Explain the significance of the economic problem in resource allocation.

    Aim for approximately 4 distinct marking points.

    [4]

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Paper 2 structured question: The role of markets in allocating resources

Paper 2Structured Questions1 marks

Description

Economic Problem

The economic problem arises from the scarcity of resources, leading to the need for choices regarding production.

  1. a

    State the three fundamental questions of economics.

    Aim for approximately 1 distinct marking point.

    [1]