A subtitling business employs linguists to create subtitle packages for television programmes. The table shows its activity in two periods.
| Period 1 | Period 2 | |
|---|---|---|
| Subtitle packages sold | 40 | 60 |
| Linguist hours hired | 200 hours | 300 hours |
| Price per subtitle package | £350 | £350 |
| Payment per linguist hour | £24 | £24 |
Explain why the payment per linguist hour and the price per subtitle package are prices in different types of market.
Using the data, explain how the change in sales of subtitle packages is linked to the change in linguist hours hired.
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.