opportunity cost Archives - Free ZIMSEC & Cambridge Revision Notes

January 2023

The Economic Problem

By garikaib|2022-09-15T12:40:55+02:00January 24th, 2023|Notes, O Level Business Studies Notes, Ordinary Level Notes|

The economic problem. Image credit wordpress.com

The economic problem. Image credit wordpress.com ZIMSEC O Level Business Studies: The Economic Problem.

The Economic Problem

Arises because resources (factors of production) are limited and scarce
whilst human needs and wants are unlimited.
This leads to the three questions:
What to produce? […]
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AS A Level Business: The Economic Problem
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AS A Level Business: The Economic Problem

Cambridge AS A Level Business Studies, Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills

AS A Level Business: The Economic Problem

By garikaib|2022-09-15T12:30:03+02:00January 24th, 2023|Cambridge AS A Level Business Studies, Notes, ZIMSEC A Level Business Studies, ZIMSEC Business Enterprise Skills|

Cambridge AS A Level Business Studies/ ZIMSEC Advanced Level Business Studies/ Business Enterprise Skills Notes: Enterprising: The Economic Problem

As already said elsewhere, business involves an organised effort
The owners combine factors of production to achieve set objectives
Combining factors of production can also be known carrying out an economic activity
Businesses exist primarily to satisfy human […]
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