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1.1 Main economic groups and factors of production

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Question 18

Amina owns a business making glass decorations. She creates the designs and shapes each item herself. She also decides how a rented studio, a furnace and two assistants will be used. Amina could lose her own investment if sales are too low.

a.

Explain how Amina's contribution to the business represents two different factors of production.

[4]
b.

Explain why the income earned from Amina's risk-taking cannot be agreed in advance.

[2]
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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