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7470792
Basic economic problem
Description
The basic economic problem and its effect in a simple flowchart
No tags specified
igcse - business studies
ch 1 - business activity
igcse
Flowchart by
Rajesh Krishnamurthy
, updated more than 1 year ago
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Created by
Rajesh Krishnamurthy
almost 8 years ago
201
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Resource summary
Flowchart nodes
Wants are unlimited
Resources are limited
Creates scarcity
Choices should be made
Leads to opportunity cost.
Real economic problem
Must be used efficiently
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