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#2
To solve the 'basic economic problem' which is scarcity. Wants in the world are infinite but resources are scarce. In a free market economy these resources are allocated through the market mechanism.
The A level is great (if that's what you're thinking of taking), but it's no substitute for Maths A level.
The A level is great (if that's what you're thinking of taking), but it's no substitute for Maths A level.
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#3
This isn't a post-graduate question lmao.
There is of course a reason why many Econ degrees require A-Level Maths, but whilst Econ is no substitute for Maths, neither is Maths for Econ. You get a different set of skills, especially with regards to essay writing and communication of theory and ideas.
(Original post by Zach3)
To solve the 'basic economic problem' which is scarcity. Wants in the world are infinite but resources are scarce. In a free market economy these resources are allocated through the market mechanism.
The A level is great (if that's what you're thinking of taking), but it's no substitute for Maths A level.
To solve the 'basic economic problem' which is scarcity. Wants in the world are infinite but resources are scarce. In a free market economy these resources are allocated through the market mechanism.
The A level is great (if that's what you're thinking of taking), but it's no substitute for Maths A level.
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#4
Economics is basically a way of thinking about how we should best allocate resources. Whether we're talking about individuals, firms, governments or nations (all of which can be considered economic agents), each of us are constrained by budgets (incomes, tax revenues, profits etc.) of some kind. Economics is basically a discipline which analyses how we should best allocate our budgets to maximise our utility (or satisfaction).
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