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Economics (0455) The Basic Economic Problem Revision Note

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Hestia Laurent

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CAIE IGCSE Economics – The Basic Economic Problem: concise notes on scarcity (unlimited wants vs limited resources), economic vs free goods, factors of production (LLCE) and rewards, plus mobility/quality changes.  Covers opportunity cost with examples and PPC: efficient/inefficient/unattainable points, movements vs shifts, and resource-allocation aims—ideal for quick revision. 
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