IGCSE Economics - Edexcel - Section A - The Market System

The Economic Problem is trying to allocate the world's finite resources to satisfy the worlds infinite wants … which is NOT a question an economic system should answer

Which statement best describes Opportunity Cost

Which points on the PPC / PPF represent the economy operating at maximum output

Which point/s on the PPF / PPC represent an economy operating with unemployed resources

Which point/s on the PPF / PPC represent a level of production which is unattainable due to insufficient resources

A movement between which two points would create an opportunity cost of: Xb - Xa

Which of the following is NOT likely to cause Economic Growth (an outward shift of the PPF/PPC)

Resources are in limited supply, they will run out one day because they are (a)   ?

Consumers, just never stop wanting things this is because their wants are (a)   ?

To make a (a)   decision means to make a decision based on clear thought or reason