Economics Multiple Choice Question – 7 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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When will the imposition of a tariff by a country on the goods and services of its major trading partners reduce the country’s expenditure on imports?

Select ONE answer:

  1. when the income elasticity of demand for imports is greater than 1
  2. when the price elasticity of demand for imports is greater than 1
  3. when the price elasticity of demand for imports is less than 1
  4. when the price elasticity of supply of imports is greater than 1

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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