Economics 0455 · IGCSE · The nature of the economic problem

The nature of the economic problem — practice question

Why does choice form an important part of the basic economic problem?

  • AChoice is necessary to achieve an equilibrium price.
  • BLimited resources have many uses.
  • CManufacturers produce a large variety of foods.
  • DThe market leads to an unequal distribution of goods.

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