https://padlet.com/lloyd_d/ykv5ax8rswc1 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]ith a stroke of good luck en-us 2018-03-01 03:16:43 UTC 2026-03-20 18:27:27 UTC hello@padlet.com https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761079 the economic problem is that there a unlimited wants but limited resources. so we need to allocate resources effectively which mean not everyones wants will be fullfilled]]> 2018-03-01 03:18:28 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761079 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761136 All societies face economic problem, which is the problem of how to make the best use of limited resources. The economic problem exists because the needs and wants of people are endless and the resources available to satisfy needs and wants are also limited.]]> 2018-03-01 03:18:45 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761136 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761139 The economic problem cannot be solved because it is stated that there is unlimited ones from the people but limited resources in the world. ]]> 2018-03-01 03:18:46 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761139 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761142 1. Unlimited wants and needs.
2. Limited and scarce resources.
3. Even if amount of resources increase, people will not be satisfied.]]> 2018-03-01 03:18:48 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761142 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761165 economic problem is to satisfy unlimited needs and wants with limited resources. With limited resources, we cannot satisfy all human's needs and wants so we have to make the best use of scarce resources]]> 2018-03-01 03:18:55 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761165 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761180 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 continuously increasing wants. Socities also face the difficulty of making the best use of scarce resources.]]> 2018-03-01 03:19:02 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761180 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761211 the economic problem can never be solved as there are unlimited wants and scarce resources. ]]> 2018-03-01 03:19:13 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761211 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761265 Limited resources but unlimited wants

]]> 2018-03-01 03:19:29 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761265 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761277 2018-03-01 03:19:33 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761277 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761339 Unlimited wants and limited resources. Wants grow more than resources ]]> 2018-03-01 03:19:56 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761339 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761354

]]> 2018-03-01 03:20:02 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761354 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761485 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 03:20:45 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236761485 https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236762990 2018-03-01 03:29:33 UTC https://padlet.com/lloyd_d/ykv5ax8rswc1/wish/236762990