Cambridge Cambridge International AS & A Level Economics 9708 · 1.1.3
nature and definition of opportunity cost, arising from choices
- Code
- 1.1.3
- In
- 1.1 Scarcity, choice and opportunity cost
- Topic
- 1 Basic economic ideas and resource allocation (AS Level)
- Course
- Cambridge International AS & A Level Economics 9708
- Board
- Cambridge
Grade boundaries·Cambridge command words
Codes and titles are read by a script from Cambridge's published specification and have not been checked by a person. What each point covers is in the specification itself: Cambridge’s specification.
Points in 1.1 Scarcity, choice and opportunity cost
- 1.1.1 fundamental economic problem of scarcity
- 1.1.2 need to make choices at all levels (individuals, firms, governments)
- 1.1.3 nature and definition of opportunity cost, arising from choices
- 1.1.4 basic questions of resource allocation