A-Level Economics: The Nature and Purpose of Economic Activity
- Created by: SophieT31
- Created on: 25-10-18 18:40
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The Nature and Purpose of Economic Activity
- the central purpose of economic activity is to produce goods and services to satisfy our needs and wants
Wants Vs Resources
- Needs are things we can't do without and that are essential for survival
- Wants are the extras we desire
- You need food, shelter and warmth, but needs can be a difficult value judgement
- Many resources are scarce…
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