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Question bank·1.1 Main economic groups and factors of production
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1.1 Main economic groups and factors of production

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Question 9

Households buy insulated food containers made by a group of firms.

Year 1Year 2
Household spending on insulated food containers£6.0 million£4.8 million
Number of insulated food containers produced500,000400,000
VAT revenue received by the government£1.0 million£0.8 million
a.

Calculate the percentage decrease in household spending from Year 1 to Year 2.

[2]
b.

Using the data, explain how the change in household spending shows that consumers, producers and government are interdependent.

[4]
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

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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