Economics 9708 · AS & A Level · Scarcity, choice and opportunity cost

Scarcity, choice and opportunity cost — practice question

A key idea in economics is that resources are limited. What follows with certainty from this?

  • ADifficult choices are unavoidable for economic agents.
  • BFood shortages will become more severe over time.
  • CResource allocation cannot be left solely to the price mechanism.
  • DThere will be a continuing upward trend in commodity prices.

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