Accounting Multiple Choice Question – 27 June 2025

The basic economic problem facing all economies is?

Select ONE answer:

1. Maximising economic growth
2. Unemployment
3. Inflation
4. Allocating scarce resources

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 4

1. Not correct
2. Not correct
3. Not correct
4. Correct == > The basic economic problem is one of allocating scarce resources and economics is the study of how those scarce resources are or should be used.

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