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1.2 Resource allocation

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Question 10

A community centre hosts used-book sellers and musical instrument repairers. Visitors buy books or pay to have instruments repaired in the same room. Which option best explains whether these activities belong to the same market?

[1]
A

Markets are separated by the product traded, so used books and repair services belong to different markets

B

Only the books form a market because a repair service cannot be owned or stored

C

The shared room makes both activities one market because location determines the market boundary

D

Markets are separated by each seller, so every bookseller and repairer creates an individual market

Markscheme

1.2 Resource allocation Questions

  1. GCSE
  2. /Economics
  3. /1.2 Resource allocation

84 exam-style questions on AQA GCSE Economics 1.2 Resource allocation, covering 1.2.1a Markets, 1.2.1b Allocation of resources, 1.2.1c Factor and product markets, 1.2.2a Primary, secondary and tertiary sectors, 1.2.2b Goods and services, 1.2.3a Specialisation and the division of labour, 1.2.3b How and why producers specialise, and 1.2.3c Costs and benefits of the division of labour. Each one has a worked solution and a mark scheme showing where the marks go.

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