Cambridge OCR GCSE (9-1) · Economics - J205

The role of markets: Practice Questions

5 multiple-choice questions marked as you go, and 2 written questions with worked solutions. All on The role of markets.

7 questions9 marksFree, no account

Question 1

1 mark

Which of the following best defines a market in economics?

Question 2

1 mark

In the circular flow of income, which of the following best describes the relationship between the factor market and the product market?

Question 3

1 mark

In which economic sector would a business that provides banking and insurance services be classified?

Question 4

1 mark

Which statement best describes the interdependence between factor markets and product markets?

Question 5

1 mark

Which of the following is an example of an activity belonging to the primary sector of an economy?

Question 6

2 marks

Define the tertiary sector and provide one example of a business activity within it.

Write your answer out first, then check it against the worked solution.

Question 7

2 marks

Explain the difference between a factor market and a product market.

Write your answer out first, then check it against the worked solution.

* The content provided by thinka is generated by AI and may not always be accurate or up-to-date. Please use it as a supplementary resource and verify with official materials.

You've seen the model answer. Now get yours marked.

This page can show you how a good answer looks. It cannot tell you what your answer was missing. thinka marks your written work against the real mark scheme in about 15 seconds.

Get My Answers Marked Back to the notes

Want more questions like these? Get a fresh set on this topic, marked as you go.

Practise More