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...Igcse o level revision notes the basic economic problem scarcity and exercise of choice www megalecture com economics scarce resources unlimited wants this is reason for existence subject in reality most are similarly individuals nations have basics scare there only a limited number such as workers machines factories raw materials etc yet different ways which they could be used studyguide pk page people amount money lots needs to satisfy also government has billion however it unable all its arises because but human what difference between opportunity cost deciding uses benefit that lost making two competing next best alternative examples...