https://padlet.com/lloyd_d/a1mtwotibj26 In 2013, an earthquake on the Iran/Pakistan border destroyed many factories and homes. Some officials wanted the Governments to rebuild the factories and homes, even though there would be an opportunity cost. Others suggested that some people should be encouraged to emigrate. (a) Define ‘opportunity cost’. [2] (b) Explain why the economic problem can never be solved. [4] (c) Using a production possibility curve diagram, analyse the effect of the destruction of some of its resources on an economy. [6] (d) Discuss whether a country will benefit from the emigration of some of its people. [8] en-us 2018-03-01 02:24:11 UTC 2023-10-14 17:02:35 UTC hello@padlet.com lloyd_d https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759784 2018-03-01 03:10:05 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759784 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759896 Next best alternative

]]> 2018-03-01 03:10:51 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759896 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759969 Google is fren]]> 2018-03-01 03:11:22 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759969 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759985 the next best alternative forgone to gain the better optiont]]> 2018-03-01 03:11:27 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759985 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759990 next best alternative forgone for one alternative]]> 2018-03-01 03:11:28 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236759990 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760045 The next best alternative forgone that must be given up]]> 2018-03-01 03:11:49 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760045 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760067 The benefit we could have enjoyed from the next best alternative we choose to go without]]> 2018-03-01 03:11:54 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760067 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760082 2 marks brah]]> 2018-03-01 03:12:00 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760082 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760099 Forgone]]> 2018-03-01 03:12:08 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760099 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760153 Opportunity cost is the next best alternative forgone ]]> 2018-03-01 03:12:33 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760153 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760178 The next best alternative forgone for the next best value

]]> 2018-03-01 03:12:41 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760178 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760190 The next best alternative forgone in when we make a particular choice ]]> 2018-03-01 03:12:45 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760190 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760209 2018-03-01 03:12:51 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760209 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760214 A lost of other alternative when one alternative is chosen]]> 2018-03-01 03:12:52 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760214 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760231 Forgone]]> 2018-03-01 03:12:59 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760231 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760235 The next best alternative forgone ]]> 2018-03-01 03:13:01 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760235 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760259 The economic problem states that the world has limited resources but unlimited wants. Since unlimited wants cannot possibly be satisfied with the scarce resources present, the economic problem cannot be solved. For instance, there are a growing number of homeless people since homes cost a lot of resources to build and thus cannot be provided for free.]]> 2018-03-01 03:13:10 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760259 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760269 The next best alternative forgone]]> 2018-03-01 03:13:16 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760269 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760290 the next best]]> 2018-03-01 03:13:24 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760290 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760313 2018-03-01 03:13:33 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760313 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760323 when the next best alternative is forgone for one alternative]]> 2018-03-01 03:13:36 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760323 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760476 There are unlimited needs and wants]]> 2018-03-01 03:14:42 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760476 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760494 .]]> 2018-03-01 03:14:49 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760494 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760543 Scarcity - Unlimited wants and limited resources. Wants will grow more than resources]]> 2018-03-01 03:15:06 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760543 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760555 2018-03-01 03:15:11 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760555 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760601 The economic problem can never be solved because there are unlimited wants but the world has scarce resources which are not enough to satisfy the wants.]]> 2018-03-01 03:15:26 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760601 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760604 ...]]> 2018-03-01 03:15:30 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760604 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760723

]]> 2018-03-01 03:16:20 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760723 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760731 Limited resources and unlimited wants]]> 2018-03-01 03:16:24 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760731 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760742 When there is a destruction of some of its resources, ]]> 2018-03-01 03:16:27 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760742 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760758 Limited resources and unlimited wants and resources are scarce. ]]> 2018-03-01 03:16:32 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760758 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760778

The economic problem cannot be solved since

]]> 2018-03-01 03:16:40 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760778 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760788 there are unlimited wants and limited resources so no all wants can be fullfilled as we need to allocate resources effectively ]]> 2018-03-01 03:16:47 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760788 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760848 The economic problem. All societies face economic problem, which is the problem of how to make the best use of limited, or scarce, resources. The economic problemexists because, although the needs and wants of people are endless, the resources available to satisfy needs and wants are limited.]]> 2018-03-01 03:17:07 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760848 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760988 The next best alternative forgone for a better choice]]> 2018-03-01 03:17:59 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236760988 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761009 The economic problem cannot be solve, ]]> 2018-03-01 03:18:06 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761009 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761172 The next best alternative forgone for a better choice]]> 2018-03-01 03:19:00 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761172 https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761292 Because there are unlimited wants and limited resources in the world with a constantly growing population and resources constantly being consumed. Such as, gold. There's limited gold in the world but there are still high demand for gold to make jewellery. ]]> 2018-03-01 03:19:41 UTC https://padlet.com/lloyd_d/a1mtwotibj26/wish/236761292