Economics Multiple Choice Question – 6 August 2018

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

The price elasticity of demand equals the magnitude of …..

Select ONE answer:

  1. the slope of the demand curve. 
  2. the percentage change in the price of a good divided by the percentage change in the quantity demanded. 
  3. the inverse of the slope of the demand curve. 
  4. the percentage change in the quantity demanded of a good divided by the percentage change in its price.

Explain how the introduction of new technology may cause a shift in the supply curve:

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

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

The answer is 4

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