At a village produce market, a grower asks £8 for a pumpkin. A customer offers £6, and the grower replies that they would take £7. Which of the following would establish the price of the pumpkin?
The grower writes £8 on the pumpkin's price label.
The customer agrees to pay £7 and buys the pumpkin.
The grower changes the label to £7 before the customer replies.
The customer repeats the offer of £6 to the grower.
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.