Economics Multiple Choice Question – 3 March 2018

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

Which of the following will decrease the supply of restaurant meals?

Select ONE answer:

  1. The demand for restaurant meals decreases.
  2. Consumers’ income increases and restaurant meals are a normal good.
  3. Waiters get a pay raise.
  4. The price of movies, a complement to restaurant meals, falls.

What is meant by “potential trade-offs”?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

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Economics Multiple Choice Question – 2 March 2018

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

If the price of chocolate chip cookies falls, then ………?

Select ONE answer:

  1. The supply curve of chocolate chip cookies would shift leftward.
  2. There would be a movement downward along the supply curve of chocolate chip cookies.
  3. The supply curve of chocolate chip cookies would shift rightward.
  4. There would be a movement upward along the supply curve of chocolate chip cookies.

What is meant by “the problem of scarcity”?……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 2

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 1 March 2018

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

The “law of supply” states that if other things remain the same ………?

Select ONE answer:

  1. Firms will produce less of a good the more it costs to produce it.
  2. Firms will produce more of a good the less it costs to produce it.
  3. Firms will produce more of a good the higher its price.
  4. Firms will produce less of a good as the required resources become scarcer.

What is meant by “the economic problem”?

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.