Economics Multiple Choice Question – 18 May 2018

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

What is the price elasticity of demand for oranges (using average price and average quantity) when the price of oranges changes from £200 to £160 per ton and so the quantity demanded changes from 1000 to 1400 tons?

Select ONE answer:

  1. 10.00
  2. 0.67
  3. 0.10
  4. 1.50

Show your workings to arrive at your answer, and explain and justify your reasons:

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

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

The answer is 4

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