Assess the likely impact of these drop-out rates on the allocation of resources within an economy.
The Economic Problem — Edexcel Past Paper Questions
4 questions on The Economic Problem (Edexcel specification 1.1.3) from the A-Level Economics papers, 2018–2020. Every question links to the official mark scheme at the page its answer begins on.
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With reference to Extract A and Figure 2, explain how the health care market in the UK illustrates the economic problem.
With reference to Extract D line 21, explain why ‘opportunity cost’ is a problem for governments of developing countries when servicing debt.
Using examples from the information provided, explain what is meant by renewable and non-renewable energy.
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Related topics
- 1.1.2 Positive and Normative Statements 3 questions
- 1.1.6 Types of Economies 5 questions
- 1.2.1 Rational Decision Making 5 questions
- 1.2.2 Demand 5 questions
- 1.2.3 Elasticities of Demand 16 questions
- 1.2.5 Price Elasticity of Supply 6 questions
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