Ocr a level economics - Study guides, Class notes & Summaries

Intro To OCR A Level Economics Latest 2024 Exam {Verified} normative statement - CORRECT ANSWER-an opinion that cannot be confirmed by referencing facts positive statement - CORRECT ANSWER-a statement that can be proved by referencing facts why are economic models used? - CORRECT ANSWER-theories cannot be tested in a controlled environment

Normative statement an opinion that cannot be confirmed by referencing facts Positive statement a statement that can be proved by referencing facts Why are economic models used? theories cannot be tested in a controlled environment The basic economic problem scarcity - consumer wants are always greater than available resources Opportunity cost the next best alternative foregone Factors of production resources used by a firm in production List and define the factors of production labour...

This is the official question paper

This is the final mark scheme

This is the official question paper

This is the official question paper

This is the final mark scheme

This is the official question paper

This is the final mark scheme

This is the official question paper