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willing payers buy.","mcqOptions":null},{"id":"fdfbd14b-e812-4937-918b-0454620ab397","cardType":"basic","points":2,"front":"Why can a change in one market affect supply in another market?","back":"Resources can move between competing uses.","mcqOptions":null},{"id":"b725f3ef-d4d5-4e01-b766-814352d04600","cardType":"basic","points":1,"front":"Which linked goods can be affected by a price change?","back":"Substitutes and complements.","mcqOptions":null},{"id":"18702e78-1d69-454e-9546-1542b7d4f520","cardType":"basic","points":1,"front":"What links factor markets and product markets?","back":"Their interdependence.","mcqOptions":null},{"id":"20cd4629-3ed8-4e39-98e2-8725a1a0977c","cardType":"basic","points":1,"front":"Why can the price mechanism respond quickly to changing conditions?","back":"Prices adjust continuously.","mcqOptions":null},{"id":"66509d51-beca-4f86-b8c5-0c8a9ca1db12","cardType":"basic","points":2,"front":"Why does the price mechanism have no administrative cost?","back":"Nobody is paid to decide what should be produced.","mcqOptions":null},{"id":"81c1bac2-fb15-41f9-9bbe-99b0b51d843f","cardType":"basic","points":1,"front":"What effects does the price mechanism leave out?","back":"Effects on anyone other than buyers and sellers.","mcqOptions":null},{"id":"f9124d42-49d0-4270-97f1-8d754a7218f1","cardType":"basic","points":2,"front":"Why may price rationing fail to meet people's needs?","back":"It allocates by ability to pay, not need.","mcqOptions":null},{"id":"0b50181c-7d55-4d00-b1e8-04078fce39fb","cardType":"cloze","points":null,"front":"The price mechanism settles [ ] and how much is produced.","back":"The price mechanism settles what is produced and how much is produced.","mcqOptions":null},{"id":"2d122fd3-887f-4eed-bd9b-4e7f5f5e2219","cardType":"cloze","points":null,"front":"The price mechanism settles what is produced and [ ].","back":"The price mechanism settles what is produced and how much is produced.","mcqOptions":null},{"id":"e7533537-3b6a-4359-b4db-1daacbe460e7","cardType":"cloze","points":null,"front":"The price mechanism also decides [ ] through prices moving up and down.","back":"The price mechanism also decides who gets it through prices moving up and down.","mcqOptions":null},{"id":"ff3e57d5-73a5-466c-b7c3-73dcb145b09a","cardType":"cloze","points":null,"front":"The price mechanism also decides who gets it through [ ].","back":"The price mechanism also decides who gets it through prices moving up and down.","mcqOptions":null},{"id":"afba599a-e381-4e81-a8a0-081a7143b257","cardType":"cloze","points":null,"front":"The UK farmgate milk price fell from [ ] to 35.0p per litre in the year to July 2026.","back":"The UK farmgate milk price fell from 44.4p to 35.0p per litre in the year to July 2026.","mcqOptions":null},{"id":"9700216d-e09b-449e-939b-c12d4dddf15e","cardType":"cloze","points":null,"front":"The UK farmgate milk price fell from 44.4p to [ ] per litre in the year to July 2026.","back":"The UK farmgate milk price fell from 44.4p to 35.0p per litre in the year to July 2026.","mcqOptions":null},{"id":"00903914-e336-4383-83a5-a7837a93224f","cardType":"cloze","points":null,"front":"The farmgate milk price fell by about [ ], making dairying less profitable.","back":"The farmgate milk price fell by about 21%, making dairying less profitable.","mcqOptions":null},{"id":"acb00fa0-47dd-44d1-ae8f-f4fddc9a0e9f","cardType":"cloze","points":null,"front":"The farmgate milk price fell by about 21%, making dairying [ ].","back":"The farmgate milk price fell by about 21%, making dairying less profitable.","mcqOptions":null},{"id":"d77d10be-4c18-4859-a74a-d6a7cabc5767","cardType":"cloze","points":null,"front":"Price reflects what [ ], rather than effects on anyone else.","back":"Price reflects what buyers and sellers pay each other, rather than effects on anyone else.","mcqOptions":null},{"id":"359c3e65-5a14-4439-b78b-fe6ab7bd3437","cardType":"cloze","points":null,"front":"Price reflects what buyers and sellers pay each other, rather than [ ].","back":"Price reflects what buyers and sellers pay each other, rather than effects on anyone else.","mcqOptions":null}]}],"examCountdown":{"examDate":"2027-05-13","paperLabel":"Paper 1"},"heading":"2.4.5 Role of markets in allocating resources","title":"2.4.5 Role of markets in allocating resources Flashcards","topbar":{"backHref":"/gcse/economics/ocr/flashcards"},"topicSidebar":"$L37"}]}],"topicId":"cf57e024-ad53-4ce0-a97f-fcffdb3de230","walled":"$L38"}],"$L39","$L3a"]