1.1.3 The Economic Problem 0.0 / 5 ? EconomicsMicroeconomicsASEdexcel Created by: 13clarkenCreated on: 18-04-19 12:21 6732415 Across 1. ... resources are used up quicker than they can be replenished (3, 9) 4. ... implies that there is only a limited quantity of resources and because of ... there is always an opportunity cost (8) 6. ... is the loss of other alternatives when one alternative is chosen (11, 4) Down 2. The ... problem is that resources are finite whilst out wants and needs are infinite so we have to choose what, how and who to produce for (5, 8) 3. The ... choices are: Who for, What and How (5, 8) 5. ... resources which can be replaced naturally without all being used. They are regarded as being sustainable as the use of them does not reduce the amount available in the future (9) 7. There are 4 factors of .. : Land, Labour, Entrepreneurship and Capital (10)
The reasons for individuals, organisations and societies having to make choices 3.0 / 5 based on 1 rating
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