An online auction has no physical shop. Buyers submit bids and sellers decide whether to accept them. Which option best explains why it is still a market?
Digital interaction allows buyers and sellers to exchange information and establish a price
Every market must contain shelves, so the auction is a factor market instead
Only the website owner participates because buyers never meet sellers
Prices cannot be established unless a government official attends
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.