Economics Multiple Choice Question – 24 August 2018

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

Resource use is efficient when production is such that marginal social benefit is …….

Select ONE answer:

  1. equal to the marginal social cost
  2. greater than the marginal social cost
  3. at its maximum value
  4. less than the marginal social cost

Explain the functions of the price mechanism to allocate resources: rationing, incentives, signaling:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 1

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