Igcse Economics A Notes (microeconomics)

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IGCSEexamguru.com IGCSEexamguru.com IGCSEexamguru.com IGCSE ECONOMICS 0455 1: The basic economic problem 2: The allocation of resources 3: Microeconomic decision makers Name : 1 IGCSEexamguru.com IGCSEexamguru.com ...

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...Igcseexamguru com igcse economics the basic economic problem allocation of resources microeconomic decision makers name nature finite and unlimited wants central scarcity are limited in relation to human this necessitates choices thus incurs opportunity costs consumers workers producers governments all face what examples for each shortage is when not freely available at zero price a market condition occurring specific which demand exceeds supply study involves examining how best use scarce satisfy as many our needs possible maximise welfare people have same but usually want far more than just that g s essential decent living e food shelter clothing addition comfortable designer luxury cars overseas holidays latest smartphone models note o products refer both goods services these terms sometimes interchangeable firms sellers represent buyers free i require effort be obtained abundance an cost consumption no can consumed something required sacrificed paid much needed without reducing its...

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Posted on: 14 Oct 2022 | 2 years ago
Tag: download pdf, igcse, economics, notes, microeconomics,
Filetype: PDF
File size: 1.83 MB
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