Economics Multiple Choice Question – 11 July 2018

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

When the price of milk goes up as a result of a rightward shift of the demand curve for milk ……. ?

Select ONE answer:

  1. total revenue will remain constant only if milk has a unitary price elasticity of supply.
  2. total revenue will increase only if milk is inelastic in supply.
  3. total revenue will decrease only if milk is elastic in supply.
  4. none of the above.

What is the distinction between movements along a supply curve and shifts of a supply curve?

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

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

The answer is 4

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