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1.1 Economic foundations

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Question 3

The owner of a bicycle repair business has one Saturday available. She can either run a pop-up repair service at a local market or carry out repair jobs at her workshop. She cannot do both. The table shows the expected income and expected costs of each option.

OptionExpected incomeExpected costs
Pop-up market service£1,050£520
Workshop repair jobs£900£440

Explain whether the owner should run the pop-up service at the market.

[3]
Markscheme

1.1 Economic foundations Questions

  1. GCSE
  2. /Economics
  3. /1.1 Economic foundations

81 exam-style questions on AQA GCSE Economics 1.1 Economic foundations, covering 1.1.1a Needs and wants, 1.1.1b The central purpose of economic activity, 1.1.1c Key economic decisions, 1.1.1d The main economic groups, 1.1.2a The nature of an economic resource, 1.1.2b The four factors of production, 1.1.3a The basic economic problem and making choices, and 1.1.3b Opportunity cost. Each one has a worked solution and a mark scheme showing where the marks go.

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