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2.1 The role of markets

2.1 The role of markets

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Question 4

A steel producer buys iron ore, hires workers and sells steel sheets to a refrigerator manufacturer. Which pair of transactions occurs in factor markets?

[1]
A

Buying iron ore and hiring workers

B

Hiring workers and selling steel sheets

C

Buying iron ore and selling steel sheets

D

Selling steel sheets and buying refrigerators

Markscheme

2.1 The role of markets Questions

  1. GCSE
  2. /Economics
  3. /2.1 The role of markets

28 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.

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