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...Igcse economics short notes for revision etude tv basic economic problems scarcity and opportunity cost production possibility curve factors of there are too few productive can be shown on a consumers people or firms who resources to make all the goods ppc need want services that it is shows maximum output two types products combination those used problem produced with existing re land natural in unlimited wants limited resourc sources technology e g oil es labour effort provided by human employees choosing between alternative uses z capital man made s example person chooses buy d b o other ps x machinery tractor r he could have bought xbox me u enterprise organize combine instead n produce opprtunity buying c would entrepreneurs one use will always mean giving up another way loss they might durable such as electrical point y signifies inefficiency items furniture last long term resource allocation cannot reached due non like food milk how best touse lack do not satisfy many needs orde...