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1.1 Economic methodology and the economic problem

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Question 40

Sofia opens 'Verdant Feast', a new farm-to-table restaurant. In setting up the business, she utilizes the following resources:

  1. A natural underground freshwater spring on the property, used to supply drinking water.
  2. A commercial combi-oven purchased for the kitchen.
  3. A culinary graduate hired as a pastry chef.
  4. Her initiative to risk her own savings to launch the business and implement a novel zero-waste business model.

Which of the following options correctly classifies each of these resources into its respective factor of production?

A
  1. Land; 2. Capital; 3. Labour; 4. Enterprise
B
  1. Capital; 2. Land; 3. Labour; 4. Enterprise
C
  1. Land; 2. Capital; 3. Enterprise; 4. Labour
D
  1. Land; 2. Capital; 3. Labour; 4. Capital
Markscheme

1.1 Economic methodology and the economic problem Questions

  1. A Level
  2. /Economics
  3. /1.1 Economic methodology and the economic problem

123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.

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