IGCSE ECONOMICS 0455 - IGCSE Past Papers, A* Notes, and ...

• The study of economics involves examining how to best use scarce resources to satisfy as many of our needs and wants as possible to maximise economic welfare. • All people have the same basic needs, but people usually want far more than just that. • Needs – G&S that are essential for decent living, e.g. food, shelter, clothing ................
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