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1.2 The basic economic problem

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Question 24

A business runs a shared workshop where members can use its tools and workbenches. It has 180 annual memberships available, sold at £600 each on a first-come, first-served basis. The table shows the 350 people who applied for a membership this year.

Maximum annual fee the applicant can affordNumber of applicants
Less than £600130
£600 or more220

Using the data, explain how the business answers the question of for whom to produce.

[2]
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1.2 The basic economic problem Questions

  1. GCSE
  2. /Economics
  3. /1.2 The basic economic problem

77 exam-style questions on OCR GCSE Economics 1.2 The basic economic problem, covering 1.2.1 Scarce resources and unlimited wants, 1.2.2 The economic problem, 1.2.3 Opportunity cost, and 1.2.4 Costs and benefits of economic choices. Each one has a worked solution and a mark scheme showing where the marks go.

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