Table 1 shows four transactions involving a furniture workshop.
| Transaction | Description |
|---|---|
| 1 | Cabinet makers hired by the workshop |
| 2 | Cutting machinery bought by the workshop |
| 3 | Finished wardrobes bought by households |
| 4 | Chair restoration bought by customers |
Using Table 1, which option correctly gives a factor market transaction followed by a product market transaction?
Cabinet makers hired by the workshop; finished wardrobes bought by households
Finished wardrobes bought by households; chair restoration bought by customers
Cutting machinery bought by the workshop; cabinet makers hired by the workshop
Chair restoration bought by customers; cutting machinery bought by the workshop
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.