Economics Multiple Choice Question – 17 July 2019

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

Economics

Which type of demand best explains the relationship between the demand for new houses and the demand for bricklayers?

Select ONE answer:

  1. competitive demand
  2. composite demand
  3. derived demand
  4. joint demand

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 3

  1. Competitive demand occurs when goods are substitutes.
  2. Composite demand occurs when a product has multiple uses.
  3. Correct: derived demand is when the demand for one good or service is dependent on the demand for another good or service.
  4. Joint demand occurs when products are complements.

 

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Author: stuart001uk2014

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

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