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1.1 Main economic groups and factors of production

1.1 Main economic groups and factors of production

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Question 5

A furniture firm buys timber, hires carpenters and uses machinery. Which option correctly identifies these factors of production?

[1]
A

Timber is land, carpenters are labour and machinery is capital

B

Timber is capital, carpenters are enterprise and machinery is land

C

Timber is land, carpenters are capital and machinery is enterprise

D

Timber is enterprise, carpenters are labour and machinery is capital

Markscheme

1.1 Main economic groups and factors of production Questions

  1. GCSE
  2. /Economics
  3. /1.1 Main economic groups and factors of production

29 exam-style questions on OCR GCSE Economics 1.1 Main economic groups and factors of production, covering 1.1.1 Role of main economic groups and 1.1.2 Factors of production. Each one has a worked solution and a mark scheme showing where the marks go.

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