Live revision! Join us for our free exam revision livestreams Watch now

Teaching PowerPoints

Scarce Resources, Choices and Economic Systems

Level:
GCSE, AS, A-Level
Board:
AQA, Edexcel, OCR, IB

Last updated 22 Mar 2021

This revision presentation looks at the basic economic problem.

Students need to understand the problem of unlimited wants and finite resources that gives rise to scarcity and inevitable choices. The fundamental economic problem is faced by consumers, producers and the government. Ensure you can distinguish between renewable and non-renewable resources and be able to explain the concept of sustainability. Value judgements influence economic decision making and policy in all countries so make sure you are clear on the difference between positive and normative statements.

Scarce Resources, Choices and Economic Systems

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.