Economics Multiple Choice Question – 20 November 2018

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

Which of the following is NOT an assumption of perfect competition?

Select ONE answer:

  1. each firm sells an identical product
  2. many buyers
  3. many firms
  4. restricted entry into the industry

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

This multiple choice question is suitable for Economics KS5 classes.

The answer is 4

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