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Cambridge IGCSE Economics practice

Paper 2 structured question: The nature of the economic problem

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Attempt questionThe nature of the economic problem revisionRevise the key idea

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3

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Topic

The nature of the economic problem

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Paper 2Structured Questions3 marks

A country is experiencing high demand for various goods and services.

Description

High Demand and Limited Resources

The government is faced with the challenge of allocating limited resources to satisfy the high demand from consumers, producers, and workers.

  1. a

    Explain how limited resources affect consumer choices.

    Aim for approximately 3 distinct marking points.

    [3]

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Paper 2 structured question: The nature of the economic problem

Paper 2Structured Questions1 marks

Description

Scarcity in the Economy

Due to the depletion of natural resources, the government must decide how to allocate the remaining resources among various sectors.

  1. a

    State one reason why limited resources create scarcity in the economy.

    Aim for approximately 1 distinct marking point.

    [1]