Economics Multiple Choice Question – 17 August 2018

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

The closer the substitutes for a good, the …….

Select ONE answer:

  1. more elastic is the demand for the good.
  2. less elastic is the demand for the good.
  3. smaller the degree of substitutability between the goods.
  4. larger the proportion of income that is spent on the good.

Explain what is the use of supply and demand diagrams to depict excess supply and excess demand:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

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