OCR 2023 GCSE Economics J205/01: Introduction to economics Question Paper & Mark Scheme (Merged)

2 © OCR 2023 Section A Write your answer to each question in the box provided. 1 Buyers and sellers of a good on a website is an example of A a market B competition C specialisation D the secondary sector Your answer [1] 2 For most of 2021 the world supply of computer chips did not satisfy the demand for them. This is an example of A economies of scale B oligopoly collusion C scarce resources D unlimited wants Your answer [1] 3 Price elasticity of supply measures the A percentage change in price relative to the percentage change in quantity supplied B percentage change in quantity supplied relative to a change in income C ratio of the quantity supplied to the price of the factor inputs D responsiveness of quantity supplied to a change in the price of the product Your answer [1] 3 © OCR 2023 Turn over 4 A company advertised for a new marketing manager. Two essential requirements are that the person must have marketing experience and live within easy commuting distance. Pay will depend on the level of experience. What best explains why some suitable people will not apply for this job? A The demand for labour is dependent on the demand for the