Economics 9708 · AS & A Level · Factors of production

Factors of production — practice question

(a)[8]

State and explain two factors of production required for the manufacture of chocolate. Explain the benefits of specialisation in the manufacture of chocolate.

(b)[12]

Analyse the likely effects of the reported changes in 2015 on the global price of chocolate. Discuss the most effective way in which the price of chocolate might be stabilised.

Worked solution & mark scheme

This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Knowledge and understanding: naming and explaining two relevant factors of production used in chocolate manufacture (1 mark for identification and 1 mark for explanation for each factor)” …

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