Economics Multiple Choice Question – 10 March 2018

If the price of crude oil falls, the equilibrium price of gasoline ________ and the equilibrium quantity ________ ……?

Select ONE answer:

1. Rises; decreases
2. Falls; increases
3. Rises; increases
4. Falls; decreases

What is meant by the business objective of “cost efficiency”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2

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