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  • What is the basic economic problem?
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  • What are the factors of production?
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  • Which is the best example of opportunity cost?
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  • Which statement is true?

  • Which of the following is NOT a commodity

  • If the price of petrol rises, which statement best describes the effect on a small delivery firm:

  • What is the definition of: NEED

  • What is the definition of: WANT

  • What is a: SCARCITY

  • A business has to raise prices to pay higher wages. Which stakeholder is affected LEAST? Choose ONE only
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  • VAT is a tax on:
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  • Over the last 50 years, economic growth in the UK has averaged... Choose ONE only
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