Economics Multiple Choice Question – 11 March 2018

What is the effect on the price of wooden desks and quantity of wooden desks sold if the price of wood, a resource used to produce wooden desks, rises?

Select ONE answer:

1. The equilibrium quantity of wooden desks decreases and the equilibrium price falls.
2. The equilibrium quantity of wooden desks increases and the equilibrium price falls.
3. The equilibrium quantity of wooden desks decreases and the equilibrium price rises.
4. The equilibrium quantity of wooden desks increases and the equilibrium price rises.

What is meant by the business objective of “return on investment”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

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