Two villages each specialise in making one product. Their annual output and the amount kept for use in their own village are shown below.
| Village | Product | Annual output | Kept for use in the village |
|---|---|---|---|
| Moorfield | Wool blankets | 140 blankets | 35 blankets |
| Clayford | Ceramic bowls | 260 bowls | 60 bowls |
Calculate the number of blankets Moorfield has available for exchange and the number of bowls Clayford has available for exchange.
Using your answers to (a), explain how exchange could increase the range of goods available to households in both villages.
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.