Economics A-Level
Scarcity and choice
What Scarcity and choice means in Economics A-Level, as defined for AQA.
Definition of Scarcity and choice
Check what you remember
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Reference: AQA
The problem of allocating scarce resources, which economics studies through the choices of individuals, firms and governments.
Topics that use Scarcity and choice
- Economic methodology (AQA A-Level)
Related terms
- Ceteris paribus
- Economic modelling
- Normative economics
- Normative statement
- Policy trade-offs
- Positive consequences
- Positive statement
- Social sciences vs natural sciences
Using Scarcity and choice in the exam
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