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Scarcity, Choice and Opportunity Cost

Edexcel 9EB0T1-1aA-levelLesson packFree
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About this resource

Edexcel Economics B (9EB0) Theme 1, Unit T1-1 (spec ref 1.1.1) — the basic economic problem, scarcity, trade-offs, opportunity cost for consumers, producers and government, and the production possibility frontier (PPF).

17 slides.

Lesson outline

  1. Welcome to A-Level Economics — Learning Objectives
  2. Do Now — Retrieval
  3. The Basic Economic Problem
  4. Hinge Check — What Is Scarcity?
  5. Choices and Trade-offs in Practice
  6. Who Faces Scarcity and Choice?
  7. Quick Check — Match the Agent to the Choice
  8. Opportunity Cost — The Key Concept
  9. Hinge Check — What Is the Opportunity Cost?
  10. Main Activity — Identify the Opportunity Cost
  11. The Production Possibility Frontier (PPF)
  12. Hinge Check — Reading the PPF
Unit bundleTheme 1 · Markets, consumers and firms
Part of: Theme 1 · Markets, consumers and firms: the whole unitEvery resource in the unit in one zip.

More from Theme 1 · Markets, consumers and firms