Economics

Economics is about how we distribute scarce resources.  Oil is the basis of economic production and it is running out.  A group of oil producing countries called OPEC are able to influence the world price of oil, and this has great consequences for the UK.

If you did not attend the induction session, below is a case study from an A level economics exam. 

• Read the case study and look up any words you don't understand
• Make a list of all the ways you can think of that a rising oil price effects people in the UK.

(There is no answer booklet, just write your ideas on a piece of paper).

We will discuss your ideas in the Economics induction session