1.1.2 The Nature and Purpose of Economic Activity 0.0 / 5 ? EconomicsEconomy ActivityA2/A-levelAQA Created by: EconomicsA-levelResourcesCreated on: 22-01-21 12:26 What is the main purpose of economic activity? It is to produce goods and services to satisfy consumers' wants and needs. 1 of 7 What is a Customer Need? Things that people cannot live without 2 of 7 What are Customer Wants? These are things that people can live without but desire them. 3 of 7 Examples of Customer Needs Food, Water, Clothing, Shelter 4 of 7 Examples of Customer Wants Jewellery, Alcohol, 5 of 7 What is the Basic Economic Problem? It is that there are not enough resources on earth to satisfy humans' unlimited wants and needs 6 of 7 How are we attempting to solve it? By allocating resources that are limited resources as effectively as possible to satisfy people's unlimited needs and wants. 7 of 7
Comments
No comments have yet been made