Mark scheme Q12 microeconomics (unit 2.5-2.6)
This paper 1 style question contains section (a) and part (b) questions. Part A asks candidates to explain the factors that determine the level of PES for a product. Responses might stick to the obvious examples of manufactured v primary product or may include other factors such as the time it takes to produce a good or service and the availability of factors resources used in production. Responses to part (b) should...