Economics Multiple Choice Question – 21 November 2018

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

Economics

In perfect competition ……. ?

Select ONE answer:

  1. demand for the good or service is small relative to the minimum efficient scale of a single producer.
  2. demand for the good or service can be small relative to the minimum efficient scale of a single producer as long as the goods or services are not identical.
  3. the size of demand for the good or service relative to the minimum efficient scale of a single producer does not affect competition.
  4. demand for the good or service is large relative to the minimum efficient scale of a single producer.

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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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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