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Junior Cycle · Junior Cycle Business Studies

Junior Cycle Business Studies: Scarcity and factors of production

How often Scarcity and factors of production comes up on the Business Studies papers, every year it was asked, and questions to try.

CL Asked on 4 of the last 6 Common Level papers, most recently in 2026. most years

Scarcity and factors of production, Common Level(7 marks)

Quick ones on Scarcity and factors of production.

(a)What does scarcity mean in economics?
  1. Prices of goods always rise over time
  2. Limited resources but unlimited wants
  3. There are enough resources for all wants
(b)Aisling has €80 and chooses a concert ticket over a new jacket. What is her opportunity cost?
  1. The concert
  2. The €80
  3. The jacket
(c)Which factor of production is rewarded with rent?
  1. Land
  2. Enterprise
  3. Labour
Show the answers

(a) Limited resources but unlimited wants

(b) The jacket

(c) Land

Your turn: Common Level questions on Scarcity and factors of production.

Common Level

Asked on 4 of the last 6 Common Level papers, most recently in 2026. most years

Every paper, year by year

YearWhere it came up
2026Q9
2025Not asked
2024Q14
2023Q16a
2022Not asked
2019Q10

Links open the State Examinations Commission’s paper for that year.

More Scarcity and factors of production questions

Scarcity and factors of production, 3 marks

A bakery's ovens and delivery van are which factor of production?

  1. Land
  2. Labour
  3. Capital
Show the answer

Capital

Capital is man-made goods used to produce other goods and services, like machines, tools and buildings. Land is natural resources; labour is human effort.

Other Business Studies topics

All of Junior Cycle Business Studies