Economics Multiple Choice Question – 27 August 2018

When a deadweight loss occurs in a market, we can be certain that ..….

Select ONE answer:

1. the market is a monopoly.
2. there underproduction in the market.
3. the entire society experiences a loss.
4. taxes have been imposed in a market.

Explain how the price mechanism works in the context of niche markets:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

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