Economic Activity – Key Economic Decisions

Economic Activity – Key Economic Decisions

This resource provides a clear and accessible explanation of key economic decisions and how they influence production, distribution, and consumption.

It explores the fundamental economic questions, the factors affecting decision-making, and the role of trade-offs in everyday economic activity.

Key features:

Detailed explanations of the three fundamental economic questions: what, how, and for whom to produce

Examination of factors influencing economic decisions, including scarcity, opportunity cost, and consumer demand

Discussion of decision-making at individual, business, and government levels

Exploration of trade-offs and opportunity costs with practical examples

Summary of key terms and definitions for easy reference

Includes an accompanying worksheet to reinforce and practise key concepts.