Economics A-Level

Scarcity and opportunity cost

What Scarcity and opportunity cost means in Economics A-Level, as defined for AQA.

Definition of Scarcity and opportunity cost

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Reference: AQA

A scarce resource is one where the quantity demanded exceeds the quantity supplied at a zero price, leading to an opportunity cost.

AQA · Economic resources

Topics that use Scarcity and opportunity cost

Economic resources (AQA A-Level)

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Using Scarcity and opportunity cost in the exam

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All Economics A-Level terms