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Cambridge IGCSE Economics practice

What does the term 'limited resources' refer to?

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Show answerThe nature of the economic problem revisionRevise the key idea

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MCQ

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cambridge_mcq

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Topic

The nature of the economic problem

Exam-style question

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What does the term 'limited resources' refer to?.

  1. A.Unlimited wants
  2. B.Finite goods and services
  3. C.Government policies
  4. D.Consumer preferences

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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]