Nature of Economic Problems and Production Possibilty Curve

Prepared for IGCSE Econonics on : Define and explain the nature of the economic problem (finite resources and unlimited wants). • and the factors of production (land, labour, capital, enterprise, with examples ). • Define explain mobility of the factors of production and the influences on the mobility of the various factors. • Quantity and quality of the factors of production - The causes of changes in the quantity and quality of the various factors.• ‘Class Activities,’ ‘Multiple Choice Questions’ and ‘Structured Questions’. ‘ Answers ’ Provided.