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1.1 Paper 2 Exam Practice Questions

Topic 1.1 Paper 2 - Exam Practice Questions [2] [2] [6] Answers (a) Define finite resources. [2] Finite resources mean that factors of production are limited in supply [1] and therefore cannot satisfy all the unlimited needs and wants of individuals and society [1]. (b) Define infinite wants. [2] Infinite wants are the unlimited desires of individuals and society for goods and services [1], which continue to exist...

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