Economics 9708 · AS & A Level · Factors of production

Factors of production — practice question

(a)[8]

Outline the functions of the factor enterprise in a modern economy, and explain how enterprise reacts to a rise in demand for a good.

(b)[12]

Discuss why some goods and services are supplied by private enterprise, whereas others are supplied by the government in a mixed economy.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Demonstrates knowledge and understanding of the functions of enterprise (organisation). (Up to 3 marks)” …

Full mark scheme, point by point
Step-by-step worked solution
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