Economics Multiple Choice Question – 16 January 2018

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

Economics

When the price of a normal good falls, ceteris paribus, the substitution effect leads to ________ in the quantity purchased and the income effect leads to ________ in the quantity purchased.
Select ONE answer:

  1. A decrease, a decrease
  2. An increase, an increase
  3. An increase, a decrease
  4. A decrease, an increase

What is meant by “relative price”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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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