Economics A-Level
Scarcity
What Scarcity means in Economics A-Level, as defined for Pearson Edexcel.
Definition of Scarcity
The fundamental economic problem arising from unlimited human wants relative to finite resources.
Topics that use Scarcity
- Nature of economics (Pearson Edexcel A-Level)
Related terms
Using Scarcity in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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