IGCSE REVISION NOTES The basic economic problem: scarcity and exercise of choice . IGCSE ECONOMICS Revision notes ig c s e e c o n o m i c s - Scarce resources & unlimited…

1. THE ECONOMIC PROBLEM AND SOME BASIC CONCEPTS 2. “ Be anxious for nothing, but in everything by prayer and supplication with thanksgiving, let your request be made known…

Chapter 01 - Limits, Alternatives, and Choices Chapter 01 Limits, Alternatives, and Choices Multiple Choice Questions 1. Economics is the study of: A. increasing the level…

1. ESSENTIAL STANDARD 1.00Understand the role of business in the global economy.1 2. OBJECTIVE 1.01Understand economic systems. 2 3. EQ How do businesses satisfy needs…

1. Economic Decisions Chapter 1 2. Economics Economics- a science that studies the production, distribution, and consumption of goods and services. 3. NeedsNeeds– things…

1. pp. 18-33 Chapter 2 Economic Resources and Systems 2. Learning Objectives After completing this chapter, you’ll be able to: Define scarcity. Listthe four factors of…

1. CONCEPTS IN ECONOMICS 2. Definition Definition of the subject comes from the economist Lionel Robbins, who said in 1935 that "Economics is a social science…

Slide 1Definitions of social science and economics Definitions of microeconomics and macroeconomics Definitions of growth, development and sustainable development Positive…

Slide 1NEXT The Economic Way of Thinking Slide 2 NEXT Chapter 1: The Economic Way of Thinking Scarcity is the situation that exists because wants are unlimited and resources…