Economics Multiple Choice Question – 30 September 2020

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

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A large pizza chain in the US decided to sell sandwiches as well to try to increase its revenue.
Which term describes this change?

Select ONE answer:

  1. diversification
  2. externalities
  3. horizontal merger
  4. vertical merger

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

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 1

  1. Correct
  2. Not correct
  3. Not correct
  4. Not correct

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Economics Multiple Choice Question – 29 September 2020

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

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The table shows a firm’s total revenue and total cost at different levels of output.

Which level of output gives maximum profit?

Select ONE answer:

Table 76

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

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

  1. Not correct (15-15*10 = £0)
  2. Not correct (20-18*20 = £40)
  3. Not correct (25-20*30 = £150)
  4. Correct (30-21*40 = £360)

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 28 September 2020

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

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

What benefit is likely to result from the extension of specialisation within manufacturing?

Select ONE answer:

  1. For a consumer, there are more individually made goods available.
  2. For a consumer, there could be a lower cost of living.
  3. For an employee, job satisfaction will increase.
  4. For an employee, the nature of work is more varied.

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

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 2

  1. Not correct
  2. Correct
  3. Not correct
  4. Not correct

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This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 27 September 2020

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

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

What is found in a competitive market?

Select ONE answer:

  1. Every firm earns large profits.
  2. Firms with limited capital can enter the market.
  3. The costs of production are always lower than in a monopoly.
  4. There is limited choice for consumers.

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

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 2

  1. Not correct
  2. Correct
  3. Not correct
  4. Not correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Economics Multiple Choice Question – 26 September 2020

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

sacks of coffee beans
Photo by Kelly Lacy on Pexels.com

When might a trade union be MOST likely to achieve a good pay deal for its members?

Select ONE answer:

  1. when labour costs are a high percentage of the firm’s total costs
  2. when rival firms successfully introduce an alternative product
  3. when the firm is introducing capital-intensive production
  4. when the firm is making large profits

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

This multiple choice question is suitable for Economics KS4 and KS5 classes.

The answer is 4

  1. Not correct
  2. Not correct
  3. Not correct
  4. Correct

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.