1 Basic econ problem
The section of the Cambridge IGCSE Economics (0455) syllabus introduces students to the fundamental ideas and concepts that underpin the course and the academic discipline of economics. The basic economic problem is concerned with how best to allocate scarce resources in order to satisfy people’s unlimited needs and wants.
The following topics are covered (click on the relevant hyperlink to access the supporting resources):
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1 Basic econ problem
Unit 1 - Paper 2 Exam Practice Questions
Unit 1 - Paper 2 Exam Practice QuestionsAnswers(a) Explain the meaning of the fundamental economic problem. [2]Accept responses...
1 Basic econ problem
1.4.4 Shifts in a PPC
Unit 1.4.4 - Shifts in a PPCThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand...
1 Basic econ problem
Unit 1 - True or False Quiz
Unit 1 - True or False QuizTo test your understanding of this topic in the Cambridge IGCSE Economics syllabus (The basic...
1 Basic econ problem
1.4.2 The location of production points
Unit 1.4.2 - The location of production pointsThis section of the Cambridge IGCSE Economics (0455) syllabus requires students...
1 Basic econ problem
1.1 Nature of the economic problem
Unit 1.1 - The nature of the economic problemThis section of the Cambridge IGCSE Economics (0455) syllabus covers the following...
1 Basic econ problem
1.4.1 Definition of PPC
Unit 1.4.1 - Definition of Production Possibility Curve (PPC)This section of the Cambridge IGCSE Economics (0455) syllabus...