Economics GCSE
Basic economic problem
What Basic economic problem means in Economics GCSE, as defined for AQA.
Definition of Basic economic problem
Check what you remember
Read the wording for your board, then hide it and explain Basic economic problem in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
The need for individuals and governments to constantly choose which desires to satisfy, because human desires are unlimited while resources are finite.
Topics that use Basic economic problem
- Economic activity (AQA GCSE)
Related terms
- Circular flow of income
- Consumers
- Distribution of wealth and income
- Economic agents
- Economic welfare
- Goods
- Government
- Government intervention
Using Basic economic problem in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
Practise Economics questions
Create a free account to answer exam-style questions on this topic and get feedback on your answers.
Start free
All Economics GCSE termsA week of Premium from your first lesson · Then the free plan continues · No card, no charge