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Introduction to economics answer explanations

Review worked answers and explanations for Introduction to economics. Aligned to OCR Gcse Economics.

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a. Explain A local council has a budget to either build a new community sports centre or upgrade the town's public library. Explain what is meant by the opportunity cost of choosing to build the new community sports centre. [3 marks] b. Analyse Analyse why understanding opportunity cost is important for the local council when making decisions about how to allocate its limited budget. [6 marks]

Introduction to economics answers | OCR GCSE Economics | ExamCompanion