Economics Multiple Choice Question – 29 June 2018

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

Economics

If the price of one good increases by 3 percent and the quantity demanded of another good increases by 2 percent, the cross elasticity is ________ and the two goods are ________.

Select ONE answer:

  1. 2/3, substitutes
  2. 3/2, substitutes
  3. 2/3, complements
  4. 3/2, complements

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 1

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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