Economics Multiple Choice Question – 2 May 2021

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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