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2.1 The role of markets

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Question 10

Demand for home extensions rises. Building firms employ more bricklayers and buy more equipment before supplying additional extensions. Which chain is correct?

[1]
A

Higher product-market demand increases firms' demand in factor markets

B

Higher factor-market supply must reduce demand for extensions

C

Households supply extensions while firms demand them

D

The transactions all occur in the same market because they involve one industry

Markscheme

2.1 The role of markets Questions

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

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.

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