Economics Multiple Choice Question – 14 January 2018

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

Economics

Suppose that the price of cereal rises. As a result, people have cereal for breakfast on fewer days and eat eggs instead. This behaviour is an example of….?

Select ONE answer:

  1. An increase in quantity supplied of eggs because of the income effect.
  2. A decrease in the quantity demanded of cereal because of the substitution effect.
  3. A decrease in quantity supplied of cereal because of the substitution effect.
  4. An increase in quantity demanded of eggs because of the income effect.

The “law of demand” is illustrated by a ……?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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