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1.1 Main economic groups and factors of production

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Question 8

A mineral-water producer draws water from a natural spring and borrows £50,000 from a bank to buy a bottling machine that fills and seals the bottles. A trainee lists both the spring water and the £50,000 loan as the producer's capital.

Explain the two errors in the trainee's classification.

[4]
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1.1 Main economic groups and factors of production Questions

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

77 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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