The Basic Economic Problem

A complete Cambridge IGCSE Economics (0455) Unit 1 teaching bundle for the 2027 exam series, designed to save planning time while helping students genuinely understand some of the trickiest foundation topics in Economics.

This pack covers the entire “Basic Economic Problem” unit, including scarcity, choice, opportunity cost, factors of production, and Production Possibility Curves (PPCs), with resources that are practical, student-friendly, and easy to teach from straight away.

The activities are designed to move students beyond simply memorising definitions. There is a strong focus on application, discussion, interpretation of diagrams, and exam-style thinking — particularly useful for helping students explain concepts like opportunity cost and PPCs with confidence.

The bundle also includes a comprehensive student workbook which students can complete alongside the lessons, allowing them to build up clear written notes, examples, diagrams, and exam practice as the unit progresses.

Included are a range of worksheets, structured tasks, revision activities, guided practice, and exam-style questions that can be used for:
• whole-class teaching
• homework
• revision lessons
• cover work
• intervention/support sessions
• independent study

Topics included:
• Scarcity, finite resources, and unlimited wants
• The three economic questions
• Economic goods vs free goods
• Factors of production and factor rewards
• Opportunity cost and decision making
• Production Possibility Curves (PPCs)
• Points on, under, and beyond the PPC
• Movements and shifts of PPCs
• Economic growth and productive capacity

Created for the Cambridge IGCSE Economics (0455) 2027 syllabus/exam series, but also suitable for similar Economics and Business courses.