Demand for restaurant meals falls. Restaurants buy less food from farms and employ fewer waiters. What does this show?
Only product markets have been affected
Only factor markets have been affected
A change in factor markets must occur before any product-market change
Product-market demand can affect demand in factor 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.