Economics Multiple Choice Question – 30 August 2018

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

Suppose the equilibrium wage is £10 per hour. An effective ________ would be set at ________
Select ONE answer:

  1. price ceiling; £10 per hour
  2. price floor; £8 per hour
  3. price floor; £12 per hour
  4. price ceiling; £12 per hour

Show your workings to arrive at your answer, and explain and justify your reasons:……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

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

The answer is 3

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