Quiz: Defining the Basic Economic Problem
OCR H460 A-Level Economics
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Building on what you've learned about economic goods and free goods, let's test your understanding of the basic economic problem and related concepts!
What is the basic economic problem?
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Which of the following are considered economic goods? (Select all that apply)
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An economic good is any resource that is {{blank0}}, meaning it has {{blank1}}.
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Match the items on the left with their correct pairs on the right
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If you have £100 to spend and you choose to buy a jacket for £80 instead of a pair of shoes for £60, what is the opportunity cost?
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What is the main reason why choices must be made in economics?
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Which of the following are examples of opportunity cost? (Select all that apply)
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Scarcity occurs because there are {{blank0}} resources but {{blank1}} wants.
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Match the items on the left with their correct pairs on the right
Match the items on the left with their correct pairs on the right
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Which of the following best describes a free good?
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