Reena makes a living by selling paintings of the town in which she lives. She sells them in an open-air market once a week.
In order to be able to sell more pictures in a week she decides to buy a studio, pay someone to help in the studio and try to increase demand by advertising in the local paper.
Which factors of production were changed?
Select ONE answer:
- economic growth, resource allocation, free market equilibrium
- government intervention, monetary policy, opportunity cost
- public good, market prices, fiscal policy
- supply-side policy, negative externalities, factors of production
Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………
This multiple choice question is suitable for Economics KS4 and KS5 classes.
The answer is 2
- Not correct
- Correct
- Not correct
- Not correct
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