Unit Award Scheme

120392 ECONOMICS (UNIT 3): SCARCITY AND OPPORTUNITY COST

In successfully completing this unit, the Learner will have		Evidence needed
shown knowledge of
1	the definition of scarcity	Summary sheet
2	the definition of opportunity cost	Summary sheet
demonstrated the ability to
3	identify three examples of scarce resources used in production	Summary sheet and/or student completed work
4	describe the effect that scarcity has on production decisions for one scarce resource.	Student completed work

All outcomes recorded on an AQA Summary Sheet

Approved 12 February 2024Level - Level One