1 Basic econ problem
The section of the Cambridge IGCSE Economics (0455) syllabus introduces students to the fundamental ideas and concepts that underpin the course and the academic discipline of economics. The basic economic problem is concerned with how best to allocate scarce resources in order to satisfy people’s unlimited needs and wants.
The following topics are covered (click on the relevant hyperlink to access the supporting resources):
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1 Basic econ problem
Unit 1 - Paper 2 Exam Practise Questions
Unit 1 - Paper 2 Exam Practise QuestionsCountry X is experiencing a technological advancement that significantly increases...
1 Basic econ problem
The Arctic Island Survival Game
The Arctic Island Survival Game (an introduction to IGCSE Economics)This is a fun and engaging game to get students excited...
1 Basic econ problem
1.4.4 Shifts in a PPC
Unit 1.4.4 - Shifts in a PPCThis section of the Cambridge IGCSE Economics (0455) syllabus requires students to understand...
1 Basic econ problem
1.4 Production possibility curve
Unit 1.4 - Production possibility curve (PPC) diagramsThe production possibility curve (PPC) represents the maximum combination...
1 Basic econ problem
1.3 Opportunity cost
Unit 1.3 - Opportunity cost"The real price of everything, what everything really costs to the man who wants to acquire it,...
1 Basic econ problem
Unit 1 - True or False Quiz
Unit 1 - True or False QuizTo test your understanding of this topic in the Cambridge IGCSE Economics syllabus (The basic...