An online tutoring company records its average monthly bookings for lessons and the number of tutors it employs.
| Year | Average monthly bookings | Tutors employed |
|---|---|---|
| 2024 | 240 | 12 |
| 2025 | 360 | 16 |
Which statement is supported by the changes between 2024 and 2025?
Rising demand for lessons raised the firm's demand for labour, though tutors rose by a smaller percentage than bookings
Rising demand for lessons raised the firm's demand for tutors in the product market, where the lessons are sold
Bookings and tutors rose by the same percentage, so labour demand rose exactly in line with the demand for lessons
Employing four more tutors caused bookings to rise, so the factor market changed the demand in the product market
76 exam-style questions on OCR GCSE Economics 2.1 The role of markets, covering 2.1.1 What is a market, 2.1.2 Primary, secondary and tertiary sectors, 2.1.3 Factor and product markets, and 2.1.4 Specialisation and exchange. Each one has a worked solution and a mark scheme showing where the marks go.