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EnglandEconomicsQuick questions
1.1-1.3 The economic problem and resource allocation
Quick questions on The basic economic problem - OCR GCSE Economics (J205)
2short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is q1?Show answer
Explain the difference between a need and a want, with an example of each. [3 marks]
What is q2?Show answer
A student spends their savings on a laptop. State what the opportunity cost might be. [2 marks]
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