EDEXCEL A-level Economics - The Basic Economic Problem

This lesson has been designed as an outstanding resource to support teaching and learning of 1.1.1 The Basic Economic Problem within the AQA/Edexcel A-Level Economics specification.

The pack includes:
• Exam-style questions aligned to assessment objectives (AO1–AO3).
• Examiner comments to guide students on how to improve responses.
• A mark scheme adapted from AQA guidelines to ensure consistency and support formative assessment.
• An array of resources and activities designed to consolidate knowledge and assess understanding, including recall tasks, applied examples, and higher-order discussion prompts.

Learning Outcomes:
• Define and explain the basic economic problem.
• Apply the concept of scarcity to real-world contexts.
• Demonstrate understanding of opportunity cost and choices.
• Analyse the implications of scarcity for individuals, firms, and governments.

The lesson provides both knowledge recall and exam practice, ensuring students build confidence in applying theory directly to examination questions while receiving clear feedback on how to achieve higher marks.