1.2 - The Basic Problem of Economics
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Practice Questions
Test your understanding with targeted questions
Define scarcity in your own words.
💡 Hint: Think about the limitations of resources.
What is an opportunity cost?
💡 Hint: Consider what you sacrifice when making a choice.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the definition of scarcity?
💡 Hint: Think about resource availability in economics.
True or False: Opportunity cost is the same as monetary cost.
💡 Hint: Reflect on non-monetary trade-offs.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Analyze a situation where a government must choose between funding education and healthcare. Discuss the opportunity costs of each option.
💡 Hint: Think about long-term benefits versus immediate needs.
Propose a solution to help manage scarcity in a developing country, targeting both economic growth and environmental sustainability.
💡 Hint: Consider the balance between resource use and environmental impact.
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