O-LevelEconomicsThe basic economic problem2281/12 · May/June 2024 · Q11 Mark

Why will scarcity always exist?

AThere are high costs of production.

BThere are low levels of education.

CThere are unlimited resources.

DThere are unlimited wants.

✓ Correct answer

D: There are unlimited wants.

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Topic: The basic economic problem, O-Level Economics (syllabus 2281). Multiple choice, 1 mark.
Source: O-Level Economics, May/June 2024 Paper 1 Variant 2, question 1.

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