Economics GCSE
Scarcity
What Scarcity means in Economics GCSE, as defined for Pearson Edexcel.
Definition of Scarcity
The situation where finite resources are insufficient to satisfy infinite human wants.
Topics that use Scarcity
- The economic problem (Pearson Edexcel GCSE)
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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