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The role of markets and money
Revision and exam practice for The role of markets and money.
8
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10
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72 min
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OcrGcseEconomicsThe role of markets and money
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8 objective pages available
Understanding the Role of Markets in an Economy1 objectives
- Explain, apply and evaluate the required knowledge and skills for The role of markets.
Understanding Demand in Economics1 objectives
- Explain, apply and evaluate the required knowledge and skills for Demand.
Understanding Supply in Economics1 objectives
- Explain, apply and evaluate the required knowledge and skills for Supply.
Understanding Price in Economics1 objectives
- Explain, apply and evaluate the required knowledge and skills for Price.
Understanding Competition in Markets1 objectives
- Explain, apply and evaluate the required knowledge and skills for Competition.
Understanding Production in Economics1 objectives
- Explain, apply and evaluate the required knowledge and skills for Production.
Understanding the Labour Market1 objectives
- Explain, apply and evaluate the required knowledge and skills for The labour market.
The Role of Money and Financial Markets1 objectives
- Explain, apply and evaluate the required knowledge and skills for The role of money and financial markets.
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Practice preview
- Unofficial practice material An increase in the price of fresh fruit has been observed. Using your understanding of demand, evaluate how this might affect the demand for both fruit juice and tinned fruit, explaining the relationships between these goods. [8 marks]
- What role do governments typically play in relation to market competition?
- An entrepreneur starts a new business manufacturing custom-made furniture. Analyse how two different factors of production are crucial to the success of this business. [6 marks]
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