Scarcity and Opportunity Cost [Head Start in A-Level Economics]

This resource is aimed at supporting Year 11 students who are making the transition to studying Economics at A-Level.

In the Introduction to Macroeconomics Head Start lesson, the distinction was made between micro and macroeconomics. You can access that lesson here.

Microeconomics considers the economics of everyday life, the decisions that we as households take and the impact on businesses. Here we aim to build on this definition, by offering you the chance to explore two of the most fundamental concepts that all students meet early on in their economics careers; scarcity and opportunity cost.

The resource comprises a number of problem and research based activities that can be used to build understanding and confidence and ensure that you have a strong foundation for when you commence your year 12 studies in the autumn. Following completion of the tasks, you have the chance to access a number of interactive games via the Tutor2u website to consolidate your knowledge and understanding.

Download the activity here.

Click here to download some suggested answers.