Economics Multiple Choice Question – 15 May 2018

The price elasticity of demand is defined as the magnitude of ………?

Select ONE answer:

1. The percentage change in quantity demanded divided by the percentage change in price.
2. The percentage change in price divided by the percentage change in quantity demanded.
3. The change in price divided by the change in quantity demanded.
4. The change in quantity demanded divided by the change in price.

What is meant by the “Division of Labour”?

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

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

The answer is 1

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