Quiz: Purpose of Economic Activity - Meeting Needs and Wants
AQA A level economics 7136 specification
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Welcome! You've already learned about economics as a social science, positive vs normative statements, and value judgements. Now, let's test your understanding of the purpose of economic activity: meeting needs and wants!
What is the primary purpose of economic activity?
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Which of the following examples represent needs? (Select all that apply)
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Economic activity involves using limited {{blank0}} to satisfy people's {{blank1}}.
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Match the items on the left with their correct pairs on the right
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Which of the following is an example of a want rather than a need?
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Which factors influence the economic decisions of individuals? (Select all that apply)
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When deciding how to allocate resources, individuals often face a trade-off, which is reflected in the concept of {{blank0}} cost.
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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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What is the result when resources are used inefficiently?
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