Economics Multiple Choice Question – 18 August 2018

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

For many goods, the price elasticity of demand increases over time after a price hike because …….

Select ONE answer:

  1. the ability to find good substitutes for the product whose price rose increases over time.
  2. inflation causes all prices and incomes to increase over time.
  3. consumer incomes tend to increase over time.
  4. ALL of the above answers are correct.

Explain what is the operation of market forces to eliminate excess demand and excess supply:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

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