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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 23

A drinks producer uses the following inputs to bottle spring water.

InputInformation
SpringThe spring exists naturally. The producer pays its owner an annual amount for the right to draw water from it.
Filling machineThe machine is manufactured equipment purchased by the producer and used to fill bottles.

Explain, using the information in the table, how each input should be classified as a factor of production and how the annual payment should be classified as factor income.

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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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