Cambridge IGCSE Economics
1.1The nature of the basic economic problem
The nature of the basic economic problem in Cambridge IGCSE Economics: what the syllabus expects you to know, the learning objectives and how to practise.
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Learning objectives
What the syllabus expects you to be able to do.
- 1.1.1Define the basic economic problem and scarcity, with examples for consumers, workers, firms and governments.
- 1.1.2Explain the three questions of what, how and for whom to produce.
- 1.1.3Distinguish economic goods from free goods.
Lessons
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The basic economic problem: scarcity and choice
20 min
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