Economics Multiple Choice Question – 2 May 2021

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

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In which situation is the demand for a product said to be price elastic?

Select ONE answer:

  1. A fall in price increases expenditure on the product.
  2. A fall in price increases quantity demanded.
  3. A rise in price increases expenditure on the product.
  4. A rise in price reduces quantity demanded.

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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